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Can You Sell Gold and Silver Without Reporting to the IRS?
Can You Sell Gold and Silver Without Reporting to the IRS? If you've locked in a profit on gold or silver, should you report it to the IRS?
You've likely heard things like: "Silver Eagles are exempt", "Stay under a certain amount", "No 1099 means no tax", "Cash deals mean no paper trail".
In this video, I break down what the IRS really says, what it doesn't, and why that matters...especially if you've got real gains. I'll walk you through how gold and silver are classified for taxes, how 1099-B reporting actually works, and where most people get it wrong.
This isn't tax loophole hype. It's the real-world version of the tax code, explained clearly so you can decide how to handle it.
Here's what I cover:
Are precious metals taxed like stocks or collectibles?
Do you need to report the sale if you don't get a 1099?
What the IRS looks at (and what it ignores)
How to legally reduce taxes on gold & silver
Why record keeping and holding period really matter
I'm a CPA (but not your CPA). This video is for educational purposes only. Talk to your own tax pro before making decisions. If this helped clarify things, hit Like, and Subscribe for more clear, practical tax insights.