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Congress plays chicken over paying for 1099 mandate repeal
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<p>[QUOTE="GDJMSP, post: 1106042, member: 112"]No, for years people were able to get away with not reporting it. Capital gains realized from the sale of <u>anything</u> has always been required to be reported. </p><p><br /></p><p>Now that doesn't mean that everybody did report it, we all know that many if not most did not report it. But the law still required you to report it. What you are complaining about here is that now you fear that you will not be able to get away with breaking the law anymore.</p><p><br /></p><p>Well relax, you still will. Because as a private individual the business you sell your coins to will not have to issue you a 1099. He will only have to issue a 1099 to other businesses he buys from.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 1106042, member: 112"]No, for years people were able to get away with not reporting it. Capital gains realized from the sale of [U]anything[/U] has always been required to be reported. Now that doesn't mean that everybody did report it, we all know that many if not most did not report it. But the law still required you to report it. What you are complaining about here is that now you fear that you will not be able to get away with breaking the law anymore. Well relax, you still will. Because as a private individual the business you sell your coins to will not have to issue you a 1099. He will only have to issue a 1099 to other businesses he buys from.[/QUOTE]
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