Deductions & credits


@LoveBug71 wrote:

They were silver coins melt value. No special or rare coins. 


So you just need to know the weight and the price of silver on the day your grandmother died.  If you don't know the weight, you can back-calculate it from the price the dealer paid and the silver price on the day you sold the coins.  (For example, if you had sold the coins for $12,000 today, when the silver price is $24.63 per ounce, that equals 487 ounces at melt value.)

 

Silver has been as high as $48 per ounce in the last 10 years, you might even have a loss if the price was higher on the day she died, which would be tax deductible. 

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