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<p>[QUOTE=&quot;Cloudsweeper99, post: 953800, member: 3011&quot;]It isn&#039;t related to reporting gains in the same sense as capital gains on the sale of coins above your cost basis [which seemed to me to be your original point].&nbsp; It is a reporting requirement for businesses to report transactions with their vendors so that the IRS has a more complete picture of the vendor&#039;s revenue.&nbsp; The way I read it is that it will not apply to people buying coins from dealers.&nbsp; But it will apply to coin dealers buying from their suppliers.&nbsp; So if dealer A buys a $600 coin from dealer B, then dealer A has to collect dealer B&#039;s tax ID info and issue him a 1099 at the end of the year.</p><p><br /></p><p>I&#039;m not a tax expert so this interpretation could be wrong.[/QUOTE]</p><p><br /></p>

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