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<p>[QUOTE=&quot;Rono, post: 1118782, member: 6492&quot;]Good news to everyone,</p><p>&nbsp;</p><p>Now to get it through the senate and signed.&nbsp; Cripes, I could live with the limit being raised to $5K or even $10K.&nbsp; This is just repealing it.</p><p>&nbsp;</p><p>What this is all about for those that might not have heard is that there was a provision in the health care law to require staring in 2012 all sales of merchandise of more than $600 to be recorded on a 1099 with the buyers name and numbers and submitted to the IRS.&nbsp; This would be to establish a cost basis for when you want to sell that item.&nbsp; Now this of course had the coin market upset because it would apply to a lot of their transactions.&nbsp; However, it would apply to YOU if you bought a stove or tv for over $600.&nbsp; That new flat screen and you&#039;d have a 1099 submitted in your name.&nbsp; </p><p>&nbsp;</p><p>Folks have not been happy about the paperwork and they have not been happy about the invasion of privacy.</p><p>&nbsp;</p><p>peace,</p><p>&nbsp;</p><p>rono[/QUOTE]</p><p><br /></p>

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