This year, people in business or selling on eBay will be getting 1099s from both their banks (or PayPal) and their customers. Often, those 1099s will overlap, telling the IRS that you received much more money than you really earned. There is a trick to reporting these 1099s that will help you avoid audit, while […]
Tag Archives: eBay Inc
Today TaxMama® hears from John in the TaxQuips Forum with a sensible question. “Are garage sales reportable?buy Buspar generic https://noprescriptionbuyonlinerxx.com over the counter I have never heard of anyone reporting garage sales.https://biuinternational.com/wp-content/languages/new/thesis-statement-generator.html I assume everyone guesses their basis exceeds the gross proceeds and personal losses are disallowed.”
Today TaxMama® hears from Tax455 in the TaxQuips Forum with this question. “If I earned k through eBay buying and selling phones, and k was profit, should I get a business license or incorporate for tax purposes?buy xenical online www.adentalcare.com/wp-content/themes/medicare/fonts/engl/xenical.html no prescription I did not hit the 200 transactions so I’m not sure if eBay […]
Today TaxMama® hears from Judecat in the TaxQuips Forum who is helping a sick friend. Without going into detail – “Judecat is selling his personal treasures on eBay because he is too ill and doesn’t have access to the Internet. She wants to know the tax implications.”
[TaxMama Note: In fact, a developer at Intuit just told me this week that the 1099-K form (the new merchant and 3rd party payer reporting form) for 2011 is not being used. She says IRS will not ask taxpayers to enter any info from 1099-K. Probably a results of the IRPAC recommendations. This was going […]
In ancient Israel , it came to pass that a trader by the name of Abraham Com did take unto himself a young wife by the name of Dot. And Dot Com was a comely woman, broad of shoulder and long of leg. Indeed, she was often called Amazon Dot Com. And she said unto […]
Today TaxMama hears from Robert in the TaxQuips Forum with this inquiry.buy augmentin online cpff.ca/wp-content/languages/new/canadaa/augmentin.html no prescription “I read in a Washington Post article that eBay will now start sending sellers with more than 200 transactions a 1099-K form so that they have to pay taxes on their eBay selling. I have over 200 transactions. […]
Today TaxMama hears from Brian in Wisconsin who got a surprise. “Two weeks ago I filed my taxes and everything went fine. Well. I just a form 1099-misc from a website where I made some money last year ($800). what can I do now?”
Dear Family, The Beijing Olympics starts today! 08-08-08 – if you turn it sideways, did you notice that you have three infinity symbols? To infinity and beyond! Generally Olympic frenzy is high right before each set of Olympic Games. Are you seeing that same kind of passion among the fans? For some reason, I am […]
Dear Family, Tax season countdown – 10 days. Monday is Columbus Day, so don’t expect to be mailing anything to anyone via the USPS. Do you ever have one of those days? Does everyone else have days like that, too, that day? Yesterday was an odd day like that. A friend called and said she […]
Today TaxMama wants to tell you about a few updated articles and tips you may find useful. 1) Everyone’s so into eBay and live garage sales.buy ivermectin online https://jersey-hemp.com/wp-content/languages/new/ivermectin.html no prescription And summer is definitely the time for it.buy ventolin online https://jersey-hemp.com/wp-content/languages/new/ventolin.html no prescription So, here’s an article on how to keep good records on […]
Today TaxMama hears from Michelle in MN who wants to start out right. “If I were to earn summer income of $900 or less through casual labor, online surveys, mystery shopping, and garage/eBay sales, how should I go about reporting all this stuff? Would I have to establish myself as a business in order to […]
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