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<p>[QUOTE=&quot;Tompkins316, post: 1241842, member: 28947&quot;]No because you sold the coin for less than what it was worth...or at least less than what you originally paid for it. Because you lost $100 on it you didn&#039;t actually make any profit off the sale. Because of that it isn&#039;t part of the $600.</p><p><br /></p><p>You have to think of it in terms of a business. If you were a business, at even, and you bought the coin for $1000 you would then be at -$1000. When you sold it for $900, you would go up to -$100. Technically you&#039;re still in the red so it doesn&#039;t count as profit. And all they really care about is the profit as income.</p><p><br /></p><p>EDIT: Also I don&#039;t believe he would need your SSN. When he files a 1099 for his taxes it is only for the profits he made for his sales. If you yourself had made over $600 in profit by selling to him you would have to submit your own 1099 reflecting the sales YOU made to HIM, or anyone else for that matter.[/QUOTE]</p><p><br /></p>

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