by David Schectman, MilesFranklin.com:
Relying on information from other people, I inadvertently published incorrect information on precious metals reporting requirements. We at Miles Franklin are not providing tax advice. What I am providing is what we (or any Precious Metals Broker) are required to report on as of today’s IRS regulations. Each Individual is responsible for their own tax reporting obligations and should seek advice from a licensed tax professional.
Here is what We are required to report and file a 1099, per ICTA and our primary wholesalers.
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