(13) In a transaction using gold and silver coins, the value of the coins is excluded from income or the amount realized in the transaction is the face value of the coins and not their fair market value for purposes of determining taxable income.
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Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.
Comment: Well played, sir.
Well played, sir.
(13) In a transaction using gold and silver coins, the value of the coins is excluded from income or the amount realized in the transaction is the face value of the coins and not their fair market value for purposes of determining taxable income.
Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.
http://shadesofthomaspaine.blogexec.com
Also author of Stick it to the Man!
http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417
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