Since we are picking legals brains here. I have a question about C&R when I buy a firearm from out of State person, I file it in my bound book and fill out a FA10 now when I sell a firearm to an out of State FFL OR C&R I just file it in my bound book. Am I doing this right.[?]
NO. You are doing it bass-ackwards.
FA-10's are for in-state transfers and acquisitions. You should be filing FA-10's for C&R guns you receive from out of state and for in-state, private transfers.
As you would have seen had you read this thread or the many others dealing with this subject.