<p>dt123
Member</p>
<p>Join Date: Aug 2004
Location: Texas
Threads: 12
Posts: 699 That’s an easy one.</p>
<p>How about this: assume you have a collection of 1000 rare silver dollars. Each is appraised as being worth $1000 a piece due to their fine condition and scarcity. Do you report this as $1,000 in cash, or $1,000,000 in investments, or nothing as a personal possession? </p>
<p>Well, dt123 - that’s really an easy one 
because if I had such silver coins, even if 1/10th of that - I wouldn’t be posting on this forum - I would straight go to the college my daughter wants to go as soon as I she gets accepted!</p>
<p>But, I don’t have a single silver coin :(. So, what really happens - is it the face value or the market value. Do we need to report such possessions?</p>