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NEW TAX requirements on gold sales over $600 (THIS IS A BIG DEAL)
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<p>[QUOTE="WebNomad, post: 952954, member: 22204"]I'd like to get this clarified by someone who's knowledgeable on this, as I am a bit confused as to who exactly should fill out this 1099 form - should it be: (1) the person who buys a coin worth > $600? or (2) the person who sells a coin worth > $600 or (3) both?</p><p><br /></p><p>In case of (1), is the seller's info also collected and reported by the buyer?</p><p>In case of (2), is the buyer's info also collected and reported by the seller?</p><p>In case of (3), well, then it really doesn't matter...</p><p><br /></p><p>So, can anyone figure out clearly the (1) (2) and (3)?[/QUOTE]</p><p><br /></p>
[QUOTE="WebNomad, post: 952954, member: 22204"]I'd like to get this clarified by someone who's knowledgeable on this, as I am a bit confused as to who exactly should fill out this 1099 form - should it be: (1) the person who buys a coin worth > $600? or (2) the person who sells a coin worth > $600 or (3) both? In case of (1), is the seller's info also collected and reported by the buyer? In case of (2), is the buyer's info also collected and reported by the seller? In case of (3), well, then it really doesn't matter... So, can anyone figure out clearly the (1) (2) and (3)?[/QUOTE]
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NEW TAX requirements on gold sales over $600 (THIS IS A BIG DEAL)
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