I inherited silver coins and sold some in 2020. I did not receive a 1099-B. Where do I report this?

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I inherited silver coins and sold some in 2020. I did not receive a 1099-B. Where do I report this?

There is no tax if you inherit coins or receive coins as a gift from blood relatives, but when you sell it, you are liable to pay capital gains tax in case of profits.

No taxable even will occur until you sell the coins. The basis for the value of the coins will be the fair market value at the time the deceased passed.

I inherited silver coins and sold some in 2020. I did not receive a 1099-B. Where do I report this?

your generous benefactor does not have to be a blood-relative.

"I did not receive a 1099-B."

Isn't that the whole point of holding gold and silver coins or bullion?

I inherited silver coins and sold some in 2020. I did not receive a 1099-B. Where do I report this?

Where do I report the sale of Silver on Turbo Tax Deluxe

I inherited silver coins and sold some in 2020. I did not receive a 1099-B. Where do I report this?

You would report this in the income section and it will be transferred to the schedule B.

Go to Investment Income

Select Stocks, Mutual Funds, Bonds, Other
Did you get a 1099-B or a brokerage statement for these sales? Select No
Tell us about this sale, check I'll enter one sale at a time
Fill out the information

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