What are the tax implications of trading US coins?

1 answers

• Dec 16, 2021 · 3 years ago
  As an expert in the field, I can tell you that trading US coins can have significant tax implications. It's important to keep accurate records of your trades, including the date of acquisition, the date of sale, and the purchase price. This information will be crucial when calculating your capital gains or losses. Additionally, if you are actively trading US coins, you may be considered a trader in the eyes of the IRS, which could have further tax implications. It's always a good idea to consult with a tax professional to ensure that you are meeting all of your tax obligations and taking advantage of any potential deductions or credits that may be available to you.
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