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<p>[QUOTE=&quot;10gary22, post: 1019455, member: 23626&quot;]Somehow, I think it must be $600 for a single transaction like the $1000 requirement for gambling winnings. In other words, there is no requirement to issue a 1099 if I have won $100 11 times over the year nothing happens, but hit for $1000 and they get my info before they hand me the money.</p><p>&nbsp;</p><p>But, every time I sold a coin or ingot to a bullion dealer, they got my info. Even as long as decades ago. But these new rules would seem to apply when the item being purchased by the dealer would show a profit to the seller ?</p><p>&nbsp;</p><p>I mean that the vast majority of retailers buy their wares from wholesalers (other businesses). Pawn shops, coin dealers, bullion brokers, etc purchase from individuals as a rule. So the rules would apply to them. I don&#039;t see that much has changed with the record keeping. Only now the 1099 must be issued ? </p><p>&nbsp;</p><p>Since the records must be kept anyway, it doesn&#039;t seem like much of a problem to send the forms.[/QUOTE]</p><p><br /></p>

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