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Updated over 14 years ago on . Most recent reply
Rich WeesePoster
#2 Off Topic Contributor
#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
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finance reform bill and 1099's
Rich WeesePoster#2 Off Topic Contributor
#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
I heard today that after the new finance reform bill passes, you'll have to 1099 for selling anything over $600. Anyone know about this? If I sell a couple gold pieces over that amount, do I need to 1099? How about garage sales etc? Any of you accts hear of this? Thanks. Rich
Most Popular Reply
Originally posted by Charles Perkins:
There is no requirement for individuals to report these transactions.
It's good to know that I will not have to send one to PF Chang's. My wife loves to eat there and there's no way to keep it under $600 per year. :)