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<p>[QUOTE="coleguy, post: 791425, member: 9167"]It has everything to do with it. There may be a form filed, but no taxes are due until there is a sale. If that sale isn't reported, that form is meaningless because the IRS has no way to prove a transaction in which the seller made gains took place. That makes the reportable transaction of over 10K virtually meaningless to those who have no intentions of either selling or reporting the proper information come tax time.</p><p>Guy~[/QUOTE]</p><p><br /></p>
[QUOTE="coleguy, post: 791425, member: 9167"]It has everything to do with it. There may be a form filed, but no taxes are due until there is a sale. If that sale isn't reported, that form is meaningless because the IRS has no way to prove a transaction in which the seller made gains took place. That makes the reportable transaction of over 10K virtually meaningless to those who have no intentions of either selling or reporting the proper information come tax time. Guy~[/QUOTE]
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