Do gold dealers (or coin shops) issue 1099's for gold they purchase from you? I've never sold any, so just asking. Or is it "don't ask, don't tell, don't care"?
What gold, What cash, What paperwork... If a shop isn't comfortable with door #3 find a shop that is. FWIW, This place has a classified section and Gold Buyers.
Ya know, thinking about it I've sold more than I wanted to In my defense, I've bought a number of gold pieces for other people. If I find a deal and a buyer...a little money might fall out when it changes hands I've bought a number of gold pieces for the coin club Christmas raffle and probably won more than my share of them
It's up to you to report any capital gains when you file your tax return. The dealer might or might not offer you a receipt of the transaction. As someone mentioned, "what gold, what cash." In NY, every transaction is held for a few weeks for the police to check against reports of stolen property, but the transaction is not reported to the IRS. Speaking for myself my profits from selling gold are more than offset by my losses from selling platinum.
