Selling gold AGEs to APMEX

[foolsgold]

I have questions.

1) Does APMEX issue a 1099 type document about the sale?
2) Does APMEX report the sale to the IRS?

 

[glockngold]

Can I Legally Sell Gold Anonymously?

You can sell your gold anonymously if you comply with Internal Revenue Service requirements. Review the IRS rules and learn how to find a buyer.

learn.apmex.com

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Gold Dealer’s IRS Obligations​

Dealers must file a 1099-B form when a customer sells the minimum quantity of any precious metal included on the IRS’s Reportable Items List. Reporting requirements vary depending on the coin or bullion piece(s) sold. If you have additional questions, please consult a tax professional for details on your unique tax situation.


The IRS’s Reportable Items list, as related by the National Coin & Bullion Association, for the sales of gold include,

Reportable Gold Item	Minimum Fineness	Minimum Reportable Amount
Gold Bars	0.995	Any size bars totaling 1 Kilo (32.15 troy oz) or more
1 oz Krugerrand	As Minted	Twenty-five (25) 1 oz coins
1 oz Maple Leaf	As Minted	Twenty-five (25) 1 oz coins
1 oz Mexican Onza	As Minted	Twenty-five (25) 1 oz coins

 

[pmbug]

More:

Tax Information on Gold & Silver Buying | 1099-B IRS

Is Gold taxable? Not when purchased from APMEX in the USA. What is a 1099-B IRS Form? The 1099-B IRS form is used to report any proceeds paid to non-corporate seller to the IRS. When is 1099-B filed? Dealers file it when a customer sells the minimum quantity of any Precious Metals product.

www.apmex.com

Can I Sell Silver Without Reporting to the IRS? | APMEX

Under certain circumstances you can sell silver without reporting. However, in some situations you may be obligated to report capital gains to the Internal Revenue Service (IRS).

learn.apmex.com