Your fact-checks will appear here
Federal 1099-B reporting requirements for private sales of gold and silver depend on the metal form and quantity.
The requires dealers to for certain sales of gold and silver when specific purity and quantity thresholds are met; for gold bars/rounds the fineness threshold is .995 and the common quantity trigger i...
in 2025 are governed by two overlapping rulesets: reporting applies only to certain high‑volume, standardized bullion products that meet precise ‑linked weight and purity thresholds and therefore is n...
A narrow class of are effectively exempt from mandatory Form 1099‑B dealer reporting because they are either not the type or quantity of metal that the has approved for delivery under regulated future...
is the “Proceeds From Broker and Barter Exchange Transactions” return dealers must file when they purchase or broker sales of certain that meet the IRS’s reportable-item list and quantity thresholds; ...
is a cash‑transaction reporting rule that obligates precious‑metal dealers to notify the government when they receive more than $10,000 in cash (or related cash instruments) in a single transaction or...
The Reportable Items List for precious metals is not a simple catalog of coin names but a rule set tying reportability to metals (gold, silver, platinum, palladium), specific product forms and brands,...
treats sales of precious metals as in a form and quantity that correspond to a -approved regulated futures contract (RFC); sales of forms or quantities that are not covered by an RFC are not reportabl...
When a dealer furnishes a showing gross proceeds, that document is a third‑party report to the but not the final word on tax liability; the seller remains responsible for determining and reporting the...
When a precious‑metals dealer furnishes a Form 1099‑B, the taxpayer must reconcile the gross proceeds on that form with their own cost basis (generally purchase price plus dealer premiums, commissions...
Federal law creates two distinct reporting regimes that matter for private sales of gold and silver in Washington: cash-transaction reporting (Form 8300) for payments of $10,000 or more, and dealer re...
There is clear, authoritative guidance for brokers, dealers and taxpayers about Form 1099‑B and related changes on the website and in the official 1099‑B instructions and publications (see IRS Form 10...