- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Tax experts: If I reported 1099 income
Posted on 10/24/25 at 2:35 pm
Posted on 10/24/25 at 2:35 pm
That I didn't have to, can I file a revised 1040? I'll edit to say the IRS revised the reporting of this income due to the one big beautiful bill retroactively. It has to do with ticket sales
This post was edited on 10/24/25 at 3:24 pm
9
Posted on 10/24/25 at 3:03 pm to tygerfan1
How much are we talking about? Is it worth the possibility of triggering an audit?
Posted on 10/24/25 at 3:03 pm to tygerfan1
Not a CPA, but I’m pretty sure that all income should be reported. Seems like that would be a red flag for an audit if you did that.
Posted on 10/24/25 at 3:20 pm to SalE
About 15k
Posted on 10/24/25 at 3:31 pm to tygerfan1
Ticket scalpers are up there with used car salesman and army recruiters
Posted on 10/24/25 at 3:59 pm to tygerfan1
$15k would be a substantial amount of income to not report. I assume that you are talking about cash, not checks. So you didn’t receive a 1099. If you deposited that much cash, your bank may have reported the transaction. You might want to consult with a CPA
Posted on 10/24/25 at 11:04 pm to Reagan80
quote:
You might want to consult with a CPA
What CPA is going to say “yeah buddy, just go ahead and commit tax evasion. No biggie.”
Posted on 10/25/25 at 2:22 am to tygerfan1
quote:When you said you didn’t have to report, I thought you meant it was under that $600 or whatever threshold where it’s required to issue a 1099, even though you’re still expected to report it.
About 15k
But in what world do you not have to report $15k? Was it a mistake or something?
Posted on 10/25/25 at 8:28 am to tygerfan1
Did you get a 1099 or not? If you got a 1099 you have to report it? If you didn’t get a 1099 it’s not really 1099 income?
If you hire a CPA im guessing it’s going to cost you $1500 or more. They aren’t going to do this for 1-2 hours of work I’m assuming.
So it really just depends on what this cost you and if it’s worth it.
If you hire a CPA im guessing it’s going to cost you $1500 or more. They aren’t going to do this for 1-2 hours of work I’m assuming.
So it really just depends on what this cost you and if it’s worth it.
Posted on 10/25/25 at 8:41 am to tygerfan1
quote:
About 15k
Was this money deposited? If so, the IRS can track it in an audit situation when they examine bank records.
Cash payments of 15k not deposited?
More difficult to track.
Posted on 10/25/25 at 9:33 am to baldona
quote:
I’m assuming.
quote:
by baldona
Per usual
Posted on 10/25/25 at 10:34 am to Mingo Was His NameO
If he filed his return and didn’t report it, he will need to prepare for an audit if he files an amended return. I wasn’t suggesting that a CPA would tell him to hide it. He needs to get some advice and not rely on a message board for guidance.
Posted on 10/25/25 at 11:55 am to tygerfan1
If you got a 1099 you have to report it. The only exception to reporting that I know of is if you rented your personal residence for 15 days or less.
But if you want to amend your return to wipe $15k off, by all means go for it and let us know how the audit goes.
Edit: after a little research, I am assuming your issue is with the changes to 1099-K reporting threshold. Just because it doesn’t have to be reported on a 1099-K retroactively, does not mean it doesn’t need to be reported.
But if you want to amend your return to wipe $15k off, by all means go for it and let us know how the audit goes.
Edit: after a little research, I am assuming your issue is with the changes to 1099-K reporting threshold. Just because it doesn’t have to be reported on a 1099-K retroactively, does not mean it doesn’t need to be reported.
This post was edited on 10/25/25 at 1:29 pm
Posted on 10/25/25 at 1:24 pm to tygerfan1
Op sounds frickex
Posted on 10/25/25 at 1:24 pm to tygerfan1
If you have income, it needs to be reported in a tax return, unless an exclusion applies.
Even if it’s not on a 1099.
What kind of income is it?
Even if it’s not on a 1099.
What kind of income is it?
Posted on 10/25/25 at 1:27 pm to tygerfan1
Just claim 15k in restaurant and bar tabs as marketing costs and client appreciation events
Posted on 10/26/25 at 6:20 am to tygerfan1
quote:
That I didn't have to
Is that true?
quote:
I'll edit to say the IRS revised the reporting of this income due to the one big beautiful bill retroactively. It has to do with ticket sales
Is that true?
Posted on 10/26/25 at 9:25 am to SuperSaint
quote:
Ticket scalpers are up there with used car salesman and army recruiters
Grey market watch sellers, too. Shocking that a group who buys up all of the supply, marks up prices at least 20% and provide a market for thieves to thrive are still beloved by so many.
OP, triggering an audit would be the concern. Even if your taxes are in perfect order, an audit is costly and remarkably stressful, it would not be worth it to me.
Posted on 10/26/25 at 10:39 am to buckeye_vol
They went back to the original $20K to report ticket sales, or whatever you're selling, retroactively. It will still be 20K going forward unless they change it back again.
Posted on 10/27/25 at 8:25 am to tygerfan1
IMO paying the taxes on 15 K is far worth than having an IRS audit all in your shite.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News