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I sold my silver bars for $9118 bought them for $5245 what…

I sold my silver...

I sold my silver bars for $9118 bought them for $5245 what form do I used 8949

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

I bought them for $5675 and I'm getting ready to file my taxes

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Answered in 4 minutes by:
3/14/2018
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,610
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Yes , you report on form 8949 if you are not a dealer. Gold, silver, gems, stamps, coins, etc., are capital assets except when they are held for sale by a dealer. Any gain or loss from their sale or exchange generally is a capital gain or loss. If you are a dealer, the amount received from the sale is ordinary business income.

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Customer reply replied 1 month ago
I bought my silver bars in 2008 and sold them in Dec 2017
Customer reply replied 1 month ago
no

Ok, I hope you read my above answer.

Any call offer is site generated, just ignore it.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,610
Experience: 15years with H & R Block. Divisional leader, Instructor
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