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🟡 Buying Gold & the IRS: What Investors Should Know
A CBS News report explains when the IRS can see gold purchases — and when buying physical gold remains largely private under US tax rules.
Key Facts:
Buying physical gold (coins/bars) is usually not automatically reported to the IRS
Cash transactions over $10,000 must be reported by dealers (Form 8300)
Selling certain amounts/types of gold can trigger dealer reporting
Gold held in an IRA is fully reportable like other retirement assets
Expert Insight:
Gold offers more privacy than stocks, but it’s not invisible — large cash deals and future sales can still reach the IRS.
#Investing #PreciousMetals #TaxRules #SafeHaven #WealthProtection
A CBS News report explains when the IRS can see gold purchases — and when buying physical gold remains largely private under US tax rules.
Key Facts:
Buying physical gold (coins/bars) is usually not automatically reported to the IRS
Cash transactions over $10,000 must be reported by dealers (Form 8300)
Selling certain amounts/types of gold can trigger dealer reporting
Gold held in an IRA is fully reportable like other retirement assets
Expert Insight:
Gold offers more privacy than stocks, but it’s not invisible — large cash deals and future sales can still reach the IRS.
#Investing #PreciousMetals #TaxRules #SafeHaven #WealthProtection
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