quote:
And again, a lot of people sell stuff online for a profit to make ends meet. Basically, if it goes through Goods and Services, it's getting reported. As a result, many people are buying/selling online using Friends and Family, which is risky as it offers no buyer protection and encourages scammers. Here's the article from February.

Trust me I understand this completely. I have filed schedule Cs for 30 years and understand 1099K reporting. If you are selling at a profit it is taxable income, if you aren't then it is not taxable. You stated something to the effect that if you receive a 1099k then you owe income tax according to Biden. That is only true if the sales produced a profit, while it seems clear you understand that you seemed to have gone out of your way to murky the waters.

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Posted by blueboy

Member since Apr 2006

56734 posts

Posted on 6/8/22 at 9:34 pm to Obtuse1

quote:
while it seems clear you understand that you seemed to have gone out of your way to murky the waters.

Well the selling a couch thing is murky. Like I said, you still have to prove that you sold the item for a loss, and many people have no way of doing that. People use G&S for most purchases online, even if it's used stuff sold at a loss, so it's all accumulating and getting reported.

So if I'm selling all of my stuff like a garage sale, and people pay with G&S, as they'd be smart to do, I then have to bust my arse proving that it was all for a loss. Like, hot wheels from when I was 5, ect.

And again, Biden sold this shite to people by claiming he was going for rich people who avoid taxes, which is absurd.

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