When Should I Sell My American Silver Eagle Coins & Bullion
Government & Regulatory Pressure on Market
Effective Jan. 1, 2012, the Internal Revenue Service will require that 1099 tax forms will be required for all transactions involving coins and PMs that are bought or sold in excess of $600. IRS Form 1099 is used to report independent contractor income, income from dividends, and income from many other sources.
Section 9006 of the Patient Protection and Affordable Care Act (Public Law 111-148), "SEC. 9006. EXPANSION OF INFORMATION REPORTING REQUIREMENTS. (a) IN GENERAL. " - Section 6041 of the Internal Revenue Code of 1986 is amended to require a 1099 issued for any transaction of coins and bullion in excess of $600.SEC. 9006. EXPANSION OF INFORMATION REPORTING REQUIREMENTS.
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