Claming Tax on your finds.

[Laxsaltman]

Originally Posted by cmbtvet

I heard on the radio yesterday afternoon about a government study on why our kids are so fat and what can be done to reduce the weight. The study cost $2m and the results determined that the schools should hide the chocolate milk under the white milk.

These people went to college?

[Goldenexpress]

As taxes go on silver coins. I sold some to a dealer this year. I asked about how I should report it, but he said that it was not an amount that they would have to make a report on. I read also online that the amount at which they have to report is well over a thousand. So I don't know, I guess reporting all income is one of those laws like on the Fourth of July like fireworks. Everyone does a few fireworks on the forth, so my county doesn't care too much unless someone complains. If you are only hauling in around 50 dollars a year they aren't going to spend more money than you made going after you. Now if you added around three more zero's to that figure. Yes, they would care!

HH Michael

[hillbillydigger]

Originally Posted by Goldenexpress

As taxes go on silver coins. I sold some to a dealer this year. I asked about how I should report it, but he said that it was not an amount that they would have to make a report on. I read also online that the amount at which they have to report is well over a thousand. So I don't know, I guess reporting all income is one of those laws like on the Fourth of July like fireworks. Everyone does a few fireworks on the forth, so my county doesn't care too much unless someone complains. If you are only hauling in around 50 dollars a year they aren't going to spend more money than you made going after you. Now if you added around three more zero's to that figure. Yes, they would care!

HH Michael

Would think if someone owed taxes selling like that the store would have to fill out a 1099 form and give you.

[SNJdigger]

Originally Posted by rdrunner/Joe

I think if the IRS wants a cut, they should supply the EQUIPMENT,lol

Agreed!


HH&GL

[Captin Scrap]

classic.

[Irons]

If I find anything I'll be sure to report it.