To amend the Internal Revenue Code of 1986 to exclude small transactions from broker reporting requirements, and to make certain clarifications relating to such requirements.

Amends the Internal Revenue Code to exclude from broker reporting requirements property or services which involve any metal or coin other than any gold, silver, platinum, or palladium coin or bar which is the proper subject of a regulated futures contract.

Provides that a person shall not be treated as a broker with respect to activities consisting of managing a farm on behalf of another person.

Provides that except for stocks, bonds, and other intangible personal property, broker reporting requirements shall apply only to transactions the gross proceeds of which are more than $5,000.