Silver & Gold IRS Dealer Reporting Facts ➤ JMBullion.com
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- Опубліковано 5 сер 2014
- To see this FREE INFOGRAPHIC click ➤ goo.gl/Ie95Aa
If privacy in your silver and gold buying is important to you, your definitely going to want to study our new Infographic.
With this report you will learn about IRS reporting requirements for all domestic online silver and gold dealers and local coin shops selling silver and gold to the public in the USA.
You will not only learn what deals the IRS requires to be reported by silver and gold dealers, you will also learn why.
When you buy bullion the IRS has some policies in place to track large CASH transactions… this is for anti-money laundering purposes.
In this report you will learn specifically what the IRS defines as CASH transactions.
You will also learn what types of payments are not considered CASH and therefore not reportable.
When you sell your silver and gold, specific products sold in certain quantities are mandated to be reported by dealers in IRS 1099B forms.
A 1099B form will require a seller's social security number or passport number to be filled out by the silver or gold dealer who in this case is the buying party.
Our free infographic will specifically show you which silver, gold, platinum, and palladium products are REPORTABLE ITEMS when sold and in what quantities.
This report will also illustrate to you which silver and gold bullion products are currently EXEMPT from dealer reporting requirements and also the historical reasons why certain products do not qualify for current reporting requirements.
This new infographic is designed to educate the public on privacy concerns.
At JMBullion, we want physical silver and gold investors to learn what current dealer reporting requirement rules are so they can make educated buying decisions.
Reporting requirements can always change in the future, so stay tuned to our JMBullion youtube channel for any updates in reporting requirement changes.
Please Note that bullion buying privacy does not mean silver and gold bullion investors are in any way exempt from paying any and all capital gains taxes.
For any tax related questions, please seek professional tax consul.
To see this FREE INFOGRAPHIC click ➤ goo.gl/Ie95Aa
This probably won’t be seen by anyone at JM Bullion but I’d like to say Thank you for shipping your precious metals in boxes, with care and bubble wraps.
I’ve ordered from JM and from SD Bullion and at first they were both safe and secure: but lately SD Bullion has been shipping precious metals in envelopes and the thinnest bubble wrap with barley any air in the bubbles.... my gold 2021 coin came with dents and scratches and my silver got scuffed in transit.....
As someone who buys new to sell for top dollar- I have lost the ability to get top dollar due to the less than pristine condition SD has sent their precious metals...
JM Bullion has actually won my business because of the care they put into protecting my precious metals during shipping, and I really appreciate the way they track their shipping.
On their packing slip, they have the full list of items you bought, and they scratch off and sign the packing slip each time they put an item in the box. This is fantastic for my record keeping and I’m willing to pay slightly more for peace of mind that my precious metals come protected and safe, as well as a full list of inventory with signatures that signs off the item placed in my box.
I just want to say thank you to JM Bullion for treating my business with respect, and I would 10/10 recommend JM Bullion to anyone looking into precious metals.
While SD Bullion is “slightly” less expensive.... they don’t care about my items and send damaged metals with little to no protection in shipping....
The 10 or 15 dollar difference is worth it when I know my gold arrives in pristine condition in a strong box surrounded by quality bubble wrap, and paper to stop the metals from moving around and getting dented or scratched in transit.
Thank you!
Great info, thanks for sharing this knowledge with the public.
divinejudge1 you are welcome, please subscribe and stay tuned.
Buy their products with confidence. I have never been disappointed.
This is incredibly useful info for working class Joe's and Jane's! Makes me proud to be an American! 'Pay' attention!
Thank you for this important info! If only I could afford enough to be worried...
Dellrugby PM thx & keep stacking :)
GLAD TO HAVE THIS QUICK INFO. THANKS
I will have to keep it 10 k
So I don’t have pay taxes
Wow I just Supported your amazing channel!!! :D
Now the IRS knows exactly where to go IF there is a confiscation in the future!
Never going to happen in anyone's lifetime
@@pauld8790 Never say never.
@@x00p3 Because there are much easier and larger amounts of assets to confiscate than going door to door taking people's precious metals. The government could simply drain everyone's bank accounts if they pleased. Very few people have precious metals, more have securities but most have bank accounts. Confiscation is what shady dealers push on people to get them to buy semi-numismatics because apparently they weren't confiscated last time. Well what would prevent them from getting confiscated next time? (In the ridiculous scenario if there ever was)
That's a big IF :)
@@firearmsstudent agreed if If was a fifth we all be drunk lol 😂
I am on SS only and have managed squirreling silver rounds away. Buying direct from JM has been great, so happy they were recommended to me. Our Government was ordering Silver they were out of new for a week.
good information thanks
Nice video!
Thank you Ryan :)
Are gold, and silver purchases tax deductible for the year unless liquidated?
Thanks for the info. I post your sales weekly on my fb page, thanks
the original JM bullion infographic is gone,,you cant find it on internet anymore it showed which coins were exempt
Good Video, wish it was alittle more in-depth ill check out your link
Why not just give us a review of your document? Sounds like your just trying to acquire our information.
Wow just wow the comments are a painful reminder of how nothing will ever change unless people start making change themselves
People don't understand sound money. I rarely if ever cash in on gold.
Is the 1 oz PAMP Suisse Fortuna Veriscan Gold Bar (New w/ Assay) reportable ??
I think that Mr. Anderson should have some gold and silver teeth. That would show commitment to his products.
by the way I have done almost all of my bullion purchase through JMBullion, and had great results.
Thx Madhatter, it's not just today's silly rappers, hip-hop artists, and singers who get golden grillz (teeth). The practice of gold crowns began with the Etruscans back in A.D. 150 - 200 so this silly "look at me, I'm so wealthy I got gold in my mouth" trend is nothing new.
madhatter3142006 did you see what happened to the dude with gold fronts in TRUE DETECTIVE's season 2 episode 3? I wonder if Frank ( Vince Vaughn's character ) is going to smelt those golden chiclets :)
JM Bullion Inc ya melt those bad boys down
Where does JM ship their orders from? What state?
cooldog60 we have just changed distribution centers, we are now shipping out of Las Vegas, NV.
Great video. Are sale losses on gold and silver tax deductible, that's what I would like to know
***** yes I believe up to $3000 loss is tax deductible but I am not a tax professional so do your own due diligence.
+nld1960 here is a silver blogger talking about the TAX topic -> about.ag/28percent.htm
how the heck didnt silver Britannia's make the IRS exempt list?...would have been an awesome low cost coin to stack compared to the ASE yet more desirable then a philharmonic..
silver Britannia coins are exempt
Hello everyone, we hope you enjoyed our FREE INFOGRAPHIC on Silver & Gold Dealer IRS Reporting Requirements.
Hopefully this info is beneficial to you and helps you understand some of the payment policies silver and gold dealers have in place and why. For those out there with privacy concerns, with this information you can now make fully educated decisions when buying your silver and gold bullion. Thanks for watching!
if you buy less than $10,000 of silver, does the irs keep a record of your purchase?
nope so long as you don't structure repeated cash buys with the same dealers: about.ag/reporting.htm
@@JamesHenryAnd is that per year or overtime
I'm only buying 1 gram of gold at a time and 2 1 ounce silver bullion at a time do I need to report that?
Orders like this one will not be reportable!
@@jmbullion ok thanks for the reply just started buying and want to make sure I do it right
Im new to investing. Whats the point of having gold/silver bullion. When i resell it will i get more or atleast what I paid ?
Croly Coolin you need the price to appreciate to make a profit. You are already losing one to 3 percent when buying. Also your currency will fail one day but metals never will
Yes
Good to know, thank you! BTW, love JM's Speedy "gonzalez" Service, won't go anywhere else. ^`^
We're happy to hear that Carissa. Thanks for your trust in our services and for your business!
James Anderson I have made a lot of buys from JM Bullion very happy with the service and prices,thanks for the video very helpful
Thank you Hankshaw your patronage and kind words mean a lot!
I paid JM Bullion and they did not deliver, and not only that they blame the customer. WORST company ever! BEWARE!