Nothing happens. Did he buy it with the intent of selling it 50 years later at a profit? If not then none of this applies.I have a friend that has a mac 10 SMG he bought back in the late 70s for $175. What happens when he sells it for $7000.
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Nothing happens. Did he buy it with the intent of selling it 50 years later at a profit? If not then none of this applies.I have a friend that has a mac 10 SMG he bought back in the late 70s for $175. What happens when he sells it for $7000.
Interesting question, If you decided to meet at an FFL to conduct a sale to another member could they still prosecute you if your intent was to make a profit? What if they decided the rifle you bought 10 years ago for $500 like a garand now has a market value of $1000. They don't do this for classic cars or require a seller to be a car dealer.
Just looking to eliminate/register all guns.
Wouldn't that be up to the feds to make that decision?Nothing happens. Did he buy it with the intent of selling it 50 years later at a profit? If not then none of this applies.
I have a friend that has a mac 10 SMG he bought back in the late 70s for $175. What happens when he sells it for $7000.
It would be nearly impossible to prove that he bought a gun with the intent of selling it 50 years later and making a profit. That has nothing to do with what this new rule is about anyway. It plainly states that it does not effect this sort of transaction. From the OP's link:Wouldn't that be up to the feds to make that decision?
abso****inlutelyLol, ambiguous and over reaching as f**k.
He makes $6825 profit. What do I win?I have a friend that has a mac 10 SMG he bought back in the late 70s for $175. What happens when he sells it for $7000.