The last time I sold to a local dealer they took my ID. I never got anything from them.
But if you keep accurate records, the gains are pretty easy to calculate and report. It’s no different than any other investment.
If you think you are going to get away with not paying taxes…they will find you. And they will screw you.
“If you think you are going to get away with not paying taxes…they will find you. And they will screw you.”
It’s called tyranny.
A lot of people wouldn’t have records of these purchases if bought long ago. How many people have their receipt for their wedding ring? It’s not like buying a stock or bond or ETF that is automatically registered.