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My Hot Rod for Bullion? Is it legal?
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<p>[QUOTE="fatima, post: 1347874, member: 22143"]I think you will have more issues with your state laws rather than the IRS. There is nothing wrong with bartering as you are trading one collectible for another. You can decide how you want to follow the IRS rules for that or not. </p><p><br /></p><p>However, assuming you are going transfer the title and put a license tag on it, then you will have to deal with whatever your state requires for reporting on it and if any taxes are involved.[/QUOTE]</p><p><br /></p>
[QUOTE="fatima, post: 1347874, member: 22143"]I think you will have more issues with your state laws rather than the IRS. There is nothing wrong with bartering as you are trading one collectible for another. You can decide how you want to follow the IRS rules for that or not. However, assuming you are going transfer the title and put a license tag on it, then you will have to deal with whatever your state requires for reporting on it and if any taxes are involved.[/QUOTE]
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