consumer durable
(2) Consumer durable. The term consumer durable means an item of tangible personal property of a type that is suitable under ordinary usage for personal consumption or use, that can reasonably be expected to be useful for at least 1 year under ordinary usage, and that has a sales price of more than $10,000. Thus, for example, a $20,000 automobile is a consumer durable (whether or not it is sold for business use), but a $20,000 dump truck or a $20,000 factory machine is not. (3) Collectible. The term collectible means an item described in paragraphs (A) through (D) of section 408(m)(2) (determined without regard to section 408(m)(3)). (4) Travel or entertainment activity. The term travel or entertainment activity means an item of travel or entertainment (within the meaning of 1.274-2(b)(1)) pertaining to a single trip or event where the aggregate sales price of the item and all other items pertaining to the same trip or event that are sold in the same transaction (or related transactions) exceeds $10,000. (5) Retail sale. The term retail sale means any sale (whether for resale or for any other purpose) made in the course of a trade or business if that trade or business principally consists of making sales to ultimate consumers. (6) Trade or business. The term trade or business has the same meaning as under section 162 of the Internal Revenue Code of 1954. (7) Transaction(i) The term transaction means the underlying event precipitating the payer's transfer of cash to the recipient. Transactions include (but are not limited to) a sale of goods or services; a sale of real property; a sale of intangible property; a rental of real or personal property; an exchange of cash for other cash; the establishment or maintenance of or contribution to a custodial, trust, or escrow arrangement; a payment of a preexisting debt; a conversion of cash to a negotiable instrument; a reimbursement for expenses paid; or the making or repayment of a loan. A transaction may not be divided into multiple transactions in order to avoid reporting under this section. (ii) The term related transactions means any transaction conducted between a payer (or its agent) and a recipient of cash in a 24-hour period. Additionally, transactions conducted between a payer (or its agent) and a cash recipient during a period of more than 24 hours are related if the recipient knows or has reason to know that each transaction is one of a series of connected transactions. (iii) The following examples illustrate the definition of paragraphs (c)(7) (i) and (ii). (8) Recipient. (i) The term recipient means the person receiving the cash. Except as provided in paragraph (c)(8)(ii) of this section, each store, division, branch, department, headquarters, or office (branch) (regardless of physical location) comprising a portion of a person's trade or business shall for purposes of this section be deemed a separate recipient. (ii) A branch that receives cash payments will not be deemed a separate recipient if the branch (or a central unit linking such branch with other branches) would in the ordinary course of business have reason to know the identity of payers making cash payments to other branches of such person. (iii) Examples. The following examples illustrate the application of the rules in paragraphs (c)(8)(i) and (ii) of this section: