What IRS tax form do I use to report gold and silver sales?

Question

What IRS tax form do I use to report gold and silver sales?

Answer 1

Go to IRS.gov (the IRS' website).

I'm not sure but I think it is Form 4797.  You can also print the necessary form from their website, too.

Answer 2

Normally you would report this on a Schedule D.  There could be some exceptions based on how you held the property.

Answer 3

If this is your personal jewelry etc., you report the gain on the sale on Schedule D of Form 1040.  You would not report a loss on the sale of your personal jewelry etc.

If you held gold stocks, bullion, coins etc. for investment, you would report both gains and losses on Schedule D.