Visit Brian Dudley's homepage! | |
02-23-2016, 09:10 AM | #3 | ||||||
|
I protect myself from such matters through a two step process:
1) Seldom sell any gun 2) Always lose money when selling a gun |
||||||
The Following 10 Users Say Thank You to greg conomos For Your Post: |
02-23-2016, 09:43 AM | #4 | ||||||
|
Over the course of the years I have bought and sold a lot of Parkers with one objective in mind, to enhance my collection, I have had a C&R for years My accountant makes me list the profit or loss from each sale and report it to the IRS even though the money from these activities go directly back to buy higher grade or other guns to add to my collection. I did not like the idea but he said that's the way it should be done, usually it washes out but not all the time, I have had this accountant for 44years, any body else have to do that, let me know Gary
|
||||||
02-23-2016, 09:53 AM | #5 | ||||||
|
Bob, thank you for the information. It looks like many of us are in the clear as unlicensed collectors. My average period of turnover is from ten to twenty years in most cases. The Lovely Linda seems to be able to do pretty much what she wants with my collection, without an FFL, after she discovers my name in the obituaries.
|
||||||
02-23-2016, 10:21 AM | #6 | ||||||
|
Bill it will be a looong time before we see your name in the obits my friend "LIve Long and Large" Gary
|
||||||
02-23-2016, 06:54 PM | #7 | ||||||
|
Yeah, Bill sounds a little like Redd Foxx of Sanford & Son sometimes.
|
||||||
02-24-2016, 07:03 AM | #8 | ||||||
|
It seems to me one questionable activity is buying a Parker under market price and reselling it soon after purchase at a profit even if the proceeds are used to enhance your collection.
Can you protect yourself by completing the resale by utilizing an FFL even if it is an in state sale? Has anyone ever asked the BTAF. |
||||||
02-24-2016, 08:02 AM | #9 | ||||||
|
well, they do say "livelihood" is a factor
and this may cover this question since it refers to "enhancement" (wives will need to understand we can only trade up) federal law explicitly exempts persons “who make occasional sales, exchanges, or purchases of firearms for the enhancement of a personal collection or for a hobby, or who sells all or part of his personal collection of firearms.” but then there is that one may be all it takes comment - gotcha either way
__________________
"If there is a heaven it must have thinning aspen gold, and flighting woodcock, and a bird dog" GBE |
||||||
02-24-2016, 09:41 AM | #10 | ||||||
|
Selling one gun for a bit more than you paid seems like a "no problem" for the ATF.
|
||||||
|
|