PPT Question

[Nardo1895]

I recently got a FFL and I have a question about a Private Party Transfer. I have a rifle in my personal collection that I owned before getting the FFL and I have a friend that wants to buy it. Can I do a PPT of the rifle with me as the seller and FFL , or do I have to enter it into my A&D book and treat it as a sale? If I can do a PPT its not taxed but if its a sale I have to tax it.

My option would be to go to another FFL to do the PPT. Seems kind of silly though.

Thoughts?

[ugimports]

I recently got a FFL and I have a question about a Private Party Transfer. I have a rifle in my personal collection that I owned before getting the FFL and I have a friend that wants to buy it. Can I do a PPT of the rifle with me as the seller and FFL , or do I have to enter it into my A&D book and treat it as a sale? If I can do a PPT its not taxed but if its a sale I have to tax it.

My option would be to go to another FFL to do the PPT. Seems kind of silly though.

Thoughts?

You can process it with you as the seller in the PPT. It still goes through your log book (just like all PPTs) but the Acquisition is your personal info and Dispo is your friend.

[kemasa]

I recently got a FFL and I have a question about a Private Party Transfer. I have a rifle in my personal collection that I owned before getting the FFL and I have a friend that wants to buy it. Can I do a PPT of the rifle with me as the seller and FFL , or do I have to enter it into my A&D book and treat it as a sale?

You have to log it in regardless. How you process the DROS is up to you.

If I can do a PPT its not taxed but if its a sale I have to tax it.

Incorrect. You can do a transfer where the firearm is shipped and it might not be taxed. Examples are when the seller is in CA, it is an occasional sale and not from a business, or if the the same seller is out of state and the firearm is a C&R and the buyer has a C&R FFL.

In some cases a PPT is taxed, such as where the FFL finds the buyer/seller or gets involved with the price.

My option would be to go to another FFL to do the PPT. Seems kind of silly though.

You could do it that way as well. Does not make much sense. It could make the sale clearer.

Thoughts?