[Karl Spooner]

Gold and Silver bullion sales under 10K isn’t a reportable financial transaction

I think that may sound too good to be true.

.

"There are no specific requirements requiring the reporting of precious metal acquisitions. But if you pay with cash and it exceeds $10,000, you have to disclose it as a "cash reporting transaction". The government doesn't care about gold; it just cares about cash. Transactions over $1,000 in cash necessitate such reporting."

Tax reporting

[Ancesthntr]

“There are no specific requirements requiring the reporting of precious metal acquisitions. But if you pay with cash and it exceeds $10,000, you have to disclose it as a “cash reporting transaction”. The government doesn’t care about gold; it just cares about cash. Transactions over $1,000 in cash necessitate such reporting.”
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So, which is it, $10K or $1K? I read the article, and it is incredibly unclear. Does anyone know for sure?