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Old March 28, 2010, 07:55 AM   #33
RDak
Senior Member
 
Join Date: October 17, 2004
Location: Michigan
Posts: 734
Quote:
Sure. Sorry about that.

Starts on Page 5, Line 11. Runs through Page 7 I think.

http://democrats.senate.gov/reform/m...-amendment.pdf
Thanks for the info.

Plus, as I'm sure you all know, you will be able to deduct the cost basis of the firearm from the income reported on the Form 1099 Misc. Only the profit would be taxable. (Just a reminder.)

I assume it will be a long term capital gain if held for over one year, just like any other asset, but this is an assumption on my part.

Last edited by RDak; March 28, 2010 at 08:02 AM.
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