Income From A Gold Claim

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  • HRE39
    Junior Member
    • May 2006
    • 1
    #1

    Income From A Gold Claim

    client has gold claim and has worked the site. sold $8,000 of the nuggets/dust he processed. question is should he file tax return using sched C
    Tags: None
    • OldJack
      Banned
      • Dec 2005
      • 1689
      #2
      Of course, he has to report the taxable income and his business expenses. He is in the business of mining with income subject to ordinary income tax and self-employment tax.

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