Message:

<p>[QUOTE=&quot;John Johnson, post: 3233550, member: 96020&quot;]Your coin collection is not reportable to the IRS until you sell it.&nbsp; That does not preclude you from declaring a value and paying taxes on the capital gains each year if you think you are in a lower tax bracket now than you will be in when you eventually sell.&nbsp; I don&#039;t know many people who fall into that category, myself.</p><p><br /></p><p>When you sell your coins you are legally obligated to report the capital gains.&nbsp; The IRS would want you to report the entire $20,000, but I think if you have good records of purchase prices and an accountant who knows what he&#039;s doing, you could get by with reporting only the $10,000 gains.&nbsp; That&#039;s not legal advice, so please don&#039;t try to hold me responsible if you end up in jail, though.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in