My coin dealer told me enforcing new laws IRS 109X for all sells over $600

[Darth Walker]

Some time ago I ask about reporting to the IRS sells from CRH. Today I ask my coin dealer that what was the max
a person can sell with aot getting a 109X. Coin dealer said that there is already a law that requires a coin dealer to provide an IRS 109X form (I say 109X because I do not remember is it a 1099 or 1098) for sells of more than $600. It is my understanding that the IRS takes the selling of coins as if they were collectibles and tax at a rate of 30%. Does not seems to be fair the Gov getting 30% for nothing and seating on their A~!@!.

Are any IRS agents here?

Good thing all my posts here are lies and I have never ever found something. CRH is SO hard. Well to say the Truth once I found a Wheat Penny but I lost it.

Gov pushing the black market with the unreasonable tax rates.

Darth

 

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[That Canadian Guy]

So now you are going to say you have been living a lie just like CNC and db?

 

[Darth Walker]

Yes, well I also found a dime 1964 once but I donated it to charity.

DW

 

[Bentfork]

Obama repealed that law in April last year. Your coin dealer isn't in touch with what's going on.

http://www.coinworld.com/articles/obama-signs-1099-repeal-law/

G.

 

[treeslayer]

I put all my coins back into circulation , so now I dont have to worry about selling them. HH

 

[legend76]

Obama repealed that law in April last year. Your coin dealer isn't in touch with what's going on.

http://www.coinworld.com/articles/obama-signs-1099-repeal-law/

G.

+1

 

[legend76]

Obama repealed that law in April last year. Your coin dealer isn't in touch with what's going on.

http://www.coinworld.com/articles/obama-signs-1099-repeal-law/

G.

+1

Old news
http://forum.treasurenet.com/index.php/topic,393173.0.html

 

[cooper36]

Dear Mr IRS
money is money, you have taken all mine, all but the 5.00 i have to spend on my kids nasty habit, once i break them of this nasty habit i will think about giving that to you to. My wife says the kids nasty habit is habit forming as me and my wife have picked it up too,but until we break this nasty habit of eating food we will have to keep the 5.00 you have saw fit to bless us with.
thank you
Mr
I. M. Broke

 

[quiksilver]

Could be he wants to collect the money for himself, it is not uncommon for merchants to collect sales tax and keep it for themselves.