Can You Sell Gold and Silver Without Reporting to the IRS?

Video Description

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. 💜 Enjoy my work? Support me on Patreon! https://www.patreon.com/noellorenzana 💡 NEW: Grab My Tax Deductions Cheatsheet and Maximize Your Tax Savings! https://www.noellorenzanacpa.com/tax-deductions-cheatsheet 📘 Free Ebook 10 Tips to Simplify Your Taxes: https://www.noellorenzanacpa.com/10-tips-to-simplify-your-taxes 💜 Show Your Support: Fuel Our Channel with a Cup of Coffee! ☕️ https://www.buymeacoffee.com/NoelLorenzana 📖 Transform Your Accounting - Learn Modernization Concepts in My Book Today! https://a.co/d/dFGLUjM 👪 Join My Free Facebook Group and Connect with CPAs and Tax Pros! https://www.facebook.com/groups/951368119040370 Hey there, and welcome to the channel! I’m Noel Lorenzana, a Registered CPA based in Illinois. Our mission here is to empower your financial journey with clear, trustworthy guidance on taxes, business, and alternative financial insights, so you can make confident, informed decisions without all the confusion or fear. Just a quick heads-up: watching this video doesn’t make me your personal accountant, and no client relationship is formed. This content is for informational and educational purposes only and should not be interpreted as accounting, tax, legal, financial, or investment advice. Always do your own research and consult with a qualified professional when making decisions for your unique situation. ★CONNECT WITH ME ON SOCIAL MEDIA ★ Website: https://noellorenzanacpa.com/ Facebook: https://web.facebook.com/noelblorenzana LinkedIn: https://www.linkedin.com/in/noellorenzanacpa/ 🎥 RECOMMENDED VIDEOS 🎥 https://youtu.be/IVzt9Ok1ZAg https://youtu.be/tkabAtiOJao https://youtu.be/rOQio7VmVd8 Thanks for watching my video on "Can You Sell Gold and Silver Without Reporting to the IRS?" Disclaimer: This video, and the ideas presented in it, are for entertainment and informational purposes only and should not be construed as accounting, tax, legal, financial, or investment advice. It is your responsibility to independently verify any information before relying on it or taking action. Always consult with a qualified professional regarding your specific situation. ⏱️VIDEO CHAPTERS⏱️ 00:00 - Can You Sell Gold and Silver Without Reporting to the IRS? 01:30 - How the IRS Actually Classifies Gold and Silver 04:04 - How Does the IRS Even Know You Sold It? 04:18 - Form 1099-B and the Big Confusion 08:03 - The Part People Don't Like To Say Out Loud. 09:08 - Here's Another Important Part 10:25 - Tax Planning Options That Actually Work. 13:23 - Laws, Reality, and Personal Responsibility 15:09 - Final Tips: Step-Up in Basis At Death 16:17 - Why We Just Might Be Entering a Panic Phase in Silver Replay Video Link: https://youtu.be/S50fs3RjGgI #silver #gold #taxes #irs