1099 for Selling Winnings??

I recently won an expensive software package ($1600 dollars worth), for which I will receive a 1099 form & must pay taxes on. I am interested in selling it... do I need to declare what I sell it for as income as well? Should the person I sell it to issue me a 1099 if it is for more that $600??

Thanks for your assistance!

Plainer,

You will include the $1600 as other income. You will then pay tax on that too as it will be included in your Adjusted Gross Income. It is as though you had gone to the store and paid the $1600 for the product.

When you sell the item, that is a return of your $1600, money coming back to you.
You would not report or pay tax on this amount.