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Message
re: The IRS is coming for your Venmo income
Posted on 6/8/22 at 8:40 pm to Mingo Was His NameO
Posted on 6/8/22 at 8:40 pm to Mingo Was His NameO
quote:No, the law states that if you make more than $600 per year, PP, etc. has to report it and send you this form. Biden tried to get the banks to report it for all cumulative transactions, but that didn't pass.
Unless it's a valuable antique, incorrect.
$600.
quote:I am correct in this instance. I know a lot of people who sell online. Go be a dumbfrick somewhere else.
You're not good at being correct
2
Posted on 6/8/22 at 8:44 pm to blueboy
quote:
No, the law states that if you make more than $600 per year, PP, etc. has to report it and send you this form.
Just because you get the Form doesn't mean you owe tax?
quote:
I am correct in this instance
What state is your CPA license in?
quote:
I know a lot of people who sell online.
I know the tax code
quote:
Go be a dumbfrick somewhere else.
Wrong, doubles down, starts name calling. Tough scene!
Posted on 6/8/22 at 8:54 pm to blueboy
Take your L, bro.
You are forgetting the cost basis of your shitty couch.
If you paid more for your couch than you sold it for, there is no taxable gain.
You must report the proceeds to avoid a notice from the IRS but it does not impact your tax liability.
You are forgetting the cost basis of your shitty couch.
If you paid more for your couch than you sold it for, there is no taxable gain.
You must report the proceeds to avoid a notice from the IRS but it does not impact your tax liability.
This post was edited on 6/9/22 at 7:18 am
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