Originally Posted By: Brian
I checked in the search function and saw a thread pertaining to the change in issuing IRS 1099 for gun sales, from 2010.
a lot of water has passed under the bridge since then. Have the Tax laws changed now?
Hypothetically, if a person sold a collection through an auction house and netted $100,000, would there be a 1099 generated?
how does that get reported or does it?

curios how some of these high dollar items that sell at gun auctions get slammed with taxes or is there no reporting requirement.



Whether or not a 1099 is required or issued has no bearing on whether the taxpayer must report the income. People seem to think they can finesse income from gun sales (or other collectibles), but that's not the case.

Curl

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