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No receipts for bullion purchases or gifts. What to do for taxes?
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<p>[QUOTE="baseball21, post: 2953393, member: 76863"]Obviously you need advice from a tax professional which none of us are, but the simple answer is just be honest with what your gain was. You can always start a list for your own records to keep track of it. Gifts can have different tax rules so there is a chance you may not have to declare some of those but you would need to confirm that or have a tax professional confirm that</p><p><br /></p><p>As long as you're honest you should be alright. It's only when you try and do what the one poster suggested and claim a loss on everything which clearly isn't the case in your situation that you could find yourself in trouble[/QUOTE]</p><p><br /></p>
[QUOTE="baseball21, post: 2953393, member: 76863"]Obviously you need advice from a tax professional which none of us are, but the simple answer is just be honest with what your gain was. You can always start a list for your own records to keep track of it. Gifts can have different tax rules so there is a chance you may not have to declare some of those but you would need to confirm that or have a tax professional confirm that As long as you're honest you should be alright. It's only when you try and do what the one poster suggested and claim a loss on everything which clearly isn't the case in your situation that you could find yourself in trouble[/QUOTE]
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No receipts for bullion purchases or gifts. What to do for taxes?
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