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<p>[QUOTE=&quot;Rono, post: 832746, member: 6492&quot;]Good stuff, Elaine,</p><p>&nbsp;</p><p>Most of us are aware of 8300 because this got ramped up due to 9/11 and anti-terrorist legislation.&nbsp; </p><p>&nbsp;</p><p>The new 1099K is news to me but not unexpected.&nbsp; Cripes, there are a lot of folks making a lot of money on ebay and while the ones with established businesses have probably been paying, many haven&#039;t.</p><p>&nbsp;</p><p>The IRS is pretty transparent in their basics - if you make a profit selling any kind of asset, it&#039;s considered a taxable event.&nbsp; Period.&nbsp; </p><p>&nbsp;</p><p>Now there is an exception for Garage Sale stuff and many of us are able to use this exception quite often with our coin transactions.&nbsp;&nbsp; However, I&#039;m sure many of us abuse it and should probably be more careful.</p><p>&nbsp;</p><p>peace,</p><p>&nbsp;</p><p>rono[/QUOTE]</p><p><br /></p>

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