When someone says they are "talking about it", they are saying that they would/would like to have sexual intercourse with the designated person.
*Paul and Andrew see a hot girl walk by*
Paul: you Talkin Bout It?
Andrew: yeah fool, talkin bout it..

*Paul and Andrew see a skeezer walk by*
Paul: talkin bout it?
Andrew: hell no fool, not talkin bout it..
by SUPDEN123 July 07, 2011
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