IRS clarifies requirements for 1099b reporting for gold and silver

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Start around 2:20 (until around 5:20). Basically, they are only interested in transactions involving large bars that could be used to satisfy a futures contract.
 
Viking said:
Most brokers are committing fraud when they send in a 1099b.
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Thank you, that is interesting. Could you expand on that? I have bought and sold over the decades. And I will again. I would welcome more discussion on this.
 
Someone_else said:
Thank you, that is interesting. Could you expand on that? I have bought and sold over the decades. And I will again. I would welcome more discussion on this.
Click to expand...
This is for the 1099-S, real estate brokers. But the wording is the same as far as I read.
 

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