<bjackson445[at]yahoo.com> wrote:

- quote -

Generally, no (the IRS would melt if every big transaction
were reported to it); however, if they get audited the IRS
will certainly see how much they paid you.

Why does it matter?

Seth

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bjackson...[at]yahoo.com wrote:

- quote -

No. But they will claim the purchases as inventory or cost
of goods sold. But the source of the purchases is not
identified.

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bjackson445[at]yahoo.com writes:

- quote -

Why do you care? You have to report the $100K of income
whether or not your customer reports the purchase to the IRS.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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Most of our customers buy small dollar amounts of our
product (typically less than $500 at a time). However, we
have one customer which typically buys $15,000.00 or more of
our product at a time. During the course of a year, they may
purchase $100K or more of our product (which they resell in
retail stores).

My question is, is this customer (the one who buys $100K+
from us) supposed to report these purchases to the IRS?

Thanks for any help.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >