In the US, if it's under a certain amount, I thought it was not reportable? Like under 1000 oz, or under a $10,000 transaction, no Report is made.
As said 2 times "the latter is tax on the "extra" when sold, not on the value of the item itself." To make it clear along figures: You buy a collectible for $100 You sell it for $130 You have to pay $8.4 tax You have $21.6 more. You buy a collectible for $100 You sell it for $2000 You have to pay $532 tax You have $1368 more. The latter is a margin (extreme) case, as to make clear that your 'alot' just goes up and down with your profit. The less tax you pay the less profit you have. The more tax you pay the more profit you have. It's like it is: a percentage. A rough 1/4th of the profit, and both tax and profit amounts go up and down together.
