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<p>[QUOTE=&quot;GDJMSP, post: 3428992, member: 112&quot;]No he doesn&#039;t &quot;have to&quot;, but if he&#039;s smart he will.</p><p><br /></p><p><br /></p><p><br /></p><p>I know you may not like it, but what you &quot;should do&quot; is keep track of all these things. And when you file at the end of the year you include them. </p><p><br /></p><p>And it goes further than that and it applies to all collectors. All collectors should keep meticulous records and receipts for every coin they buy, what they paid, when and who they bought it from. And if they later sell that coin they need to keep the same records for that. And when there are sales they report all sales. And make sure you understand, losses offset profits. And since there are usually more losses than there are profits - it&#039;s actually beneficial to do this.</p><p><br /></p><p>Lastly, I would mention to all the members of this forum that I know for a fact there are several members of this forum who work for the IRS. And the DOJ, the FBI, and every other govt. agency you can think of ! Coin collectors come from all walks of life folks <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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