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What tax to I pay on selling a coin I didn't pay an exact amount for?
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<p>[QUOTE="ToughCOINS, post: 2167242, member: 20480"]If you had overpaid, the taxes you owed them on sales of coins were likely taken from that overpayment before you got your refunds / credits, and you never realized it. </p><p><br /></p><p>If you already pay income taxes in any given year, you definitely do have to pay taxes on any profit you realize from the sale of coins in that same year . . . no ifs, ands or buts.[/QUOTE]</p><p><br /></p>
[QUOTE="ToughCOINS, post: 2167242, member: 20480"]If you had overpaid, the taxes you owed them on sales of coins were likely taken from that overpayment before you got your refunds / credits, and you never realized it. If you already pay income taxes in any given year, you definitely do have to pay taxes on any profit you realize from the sale of coins in that same year . . . no ifs, ands or buts.[/QUOTE]
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What tax to I pay on selling a coin I didn't pay an exact amount for?
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