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<p>[QUOTE=&quot;Blaubart, post: 1576371, member: 37498&quot;]If you followed the rules strictly, then yes, there would have been capital gains that should have been reported.&nbsp; (&quot;Should&quot; by their standards, not mine.)</p><p><br /></p><p>IMHO - Our tax laws have become way too complicated.&nbsp; Why can&#039;t our IRS and our legislators see there&#039;s something wrong with a system where you have to hire an accountant to make sure you&#039;re not violating any tax laws when selling and then buying $200 worth of coins?&nbsp; Or, worse yet, what are the tax implications of trading $200 worth of coins for $220 worth of coins?&nbsp; Whose standards do you use for putting a value on your coins and the other person&#039;s coins?&nbsp; I&#039;m sure he thinks your coins are worth more than you do, or he thinks his coins are worth less than you do.&nbsp; Should you pay someone to have the coins appraised at the time of sale/trade for tax purposes?</p><p><br /></p><p>Maybe we should eliminate income and capital gains taxes and go with a sales tax.&nbsp; But then, we&#039;re right back to figuring out how to handle the taxes on buying, selling, and bartering coins...[/QUOTE]</p><p><br /></p>

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