Question about Steam 200 Item Limit.

[loser]

I have already read the FAQ on steam, I just need a bit of clarification as to whether this is right or wrong.

1.If I go past either the 200 item limit or the 20k mark I have to enter tax payer information(as a US citizen)

 

2. Once past the 200 item limit and say you put in your information nothing will be done about it until you go past the 20000 mark. At this point steam sends you a 1099 form that you have to fill out.

 

3. If I go past the 200 item limit and DO NOT go past the 20k in gross sales limit nothing will be done with the information, and you have nothing to worry about.

 

4.If you live outside the US you just need some proof you are not a US citizen.

 

So am I right or completely wrong?