At Roberts & Roberts Brokerage Incorporated we acknowledge and appreciate how important investor privacy is, especially to those who physically purchase silver and gold. At RRBI that confidentiality is something we value as highly as our customers. As a bullion dealer we have rules of the industry that we must follow. Our Reporting Policy was created to address any concerns you may have as a customer, and to let you know when and what is required of us to report. We are in no way advising you on how to handle your taxes. If you have any further questions we suggest that you talk to your tax advisor.
Transactions where a customer buys from RRBI are always private. Transactions where a customer sells to RRBI are private up until the amount of the transaction requires us to fill out an IRS Form 1099-B. See below for an idea of what items are and are not Form 1099-B exempt.
While we are not always required to report on sales or purchases that does not mean that you do not have to as well.
A 1099 is required for these items once they hit the reporting threshold:
|25 1oz Gold South African Krugerrands
|100oz or multiples totalling 100oz
|25 1oz Gold Canadian Maple Leaf
|25 1oz Gold Mexican Onza
|$1000 Face Amount 90%