[meteorite-list] New BLM Rules

[Adam Hupe]

Links:

http://beginnersinvest.about.com/od/capitalgainstax/ss/capital-gains-tax-rates_4.htm
Gold and Silver Are Taxed as Collectibles
Gold and silver bullion, such as American Eagle gold coins, Canadian Gold Maple Leaf coins, and South African Krugerrand gold coins, are taxed at the same capital gains rate as collectibles.  This 
includes Gold ETFs and Silver ETFs.  Investors make a very real mistake 
assuming they will be able to pay the lower capital gains tax rate that 
is paid on stocks and bonds, sometimes causing them to experience 
painful surprises come tax day.



Here is a link :

http://www.ehow.com/info_7814465_tax-rules-selling-gold-coins.html

1099-B
	* As of 2010, sales of gold bullion did not need to be reported on a Form 1099-B unless they conform with Commodity Futures TradingCommission (CFTC) futures contract specifications, which include requirements for 
quantity, purity and weight. Under the rules for 1099-B, though, sales 
in a 24-hour period must be aggregated to determine whether they fit the CFTC requirements. Exchanges of bullion for other goods or services 
also need not be reported unless they are made on a qualifying barter 
exchange.
Changes in the Law
	* The health care reform act signed by President Obama in 2010 includes a provision that will change the way gold bullion dealers 
operate. Effective in the 2012 tax year, any purchase of gold bullion 
over $600 by a dealer will have to be reported on Form 1099-B. According to ABC News, this change in the law will vastly increase the number of 
1099s that must be required and will provide the federal government with much more detailed information about dealer purchases of bullion.