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re: The IRS is coming for your Venmo income
Posted on 6/8/22 at 4:48 pm to beauchristopher
Posted on 6/8/22 at 4:48 pm to beauchristopher
quote:that's why i said "if it's actually income"
It's already been taxed, often twice. I buy an item that was taxed for both parties. Then I resell it for less money and it's taxed both ways again. There should be no reason for me to have to fill out documentation for it when it's barely over $600 dollars. It's just silly. I wish they limit would have stayed at 20k. It's easy to meet that $600 limit now. I use to sell online probably 1-2k worth of stuff a year. Very minor. Not as a business. Just used items I no longer wanted. Now I don't do any selling online, because of this.
what you are describing is almost certainly not income
1
Posted on 6/8/22 at 5:36 pm to GreatLakesTiger24
quote:
that's why i said "if it's actually income"
what you are describing is almost certainly not income
And I am agreeing with you.
They still send out the form.
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