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Message
Stubhub to issue 1099s for sales above $600
Posted on 12/28/21 at 10:57 pm
Posted on 12/28/21 at 10:57 pm
Got this by email today. Brandon wants his cut 
quote:
Beginning January 1, 2022, new IRS regulations require StubHub to generate a Form 1099 for accounts that meet or exceed $600 in gross sales within the 2022 calendar year. In order to generate a Form 1099 as required by state and federal tax laws, we’ll need your Taxpayer Identification Number (TIN). Your TIN is typically either your Social Security Number (SSN) or Employer Identification Number (EIN) for businesses. Based on your previous sales history, you are likely to reach the new $600 threshold in 2022. We encourage you to prepare for your future sales by inputting your TIN as soon as possible into your StubHub Account.
26
Posted on 12/28/21 at 10:58 pm to Jimmy2shoes
quote:
Based on your previous sales history, you are likely to reach the new $600 threshold in 2022.
Found the a-hole scalper.
Posted on 12/28/21 at 11:00 pm to Jimmy2shoes
Good. frick everyone who holds tickets just to drive up prices.
There are a million things we don't allow to be resold. Why we allow tickets is fricking beyond me.
There are a million things we don't allow to be resold. Why we allow tickets is fricking beyond me.
This post was edited on 12/28/21 at 11:01 pm
Posted on 12/28/21 at 11:01 pm to Jimmy2shoes
Lol good.
Posted on 12/28/21 at 11:01 pm to Jimmy2shoes
The IRS better hire a lot more agents.
Posted on 12/28/21 at 11:02 pm to Jimmy2shoes
Pay unto Caesar what is Caesar’s baw.
Posted on 12/28/21 at 11:04 pm to TDFreak
quote:
Pay unto Caesar what is Caesar’s baw.
Caesar just prints it anyway so he doesn't need mine.
Posted on 12/28/21 at 11:05 pm to Jimmy2shoes
Good
ETA - they should go after waiters, bartenders, and other cash tip professions too
ETA - they should go after waiters, bartenders, and other cash tip professions too
This post was edited on 12/28/21 at 11:07 pm
Posted on 12/28/21 at 11:06 pm to Jimmy2shoes
Federal, state, property, sales, Medicare, social security, rip-off health insurance=all bullshite. Damn near 65% to the government to waste.
Posted on 12/28/21 at 11:08 pm to Jimmy2shoes
what if someone sells floor tickets to an NBA game? value of those are over 600
Posted on 12/28/21 at 11:09 pm to Jimmy2shoes
Got to pay for Brandon’s Build Back Better agenda.
This post was edited on 12/28/21 at 11:47 pm
Posted on 12/28/21 at 11:09 pm to oVo
quote:
what if someone sells floor tickets to an NBA game? value of those are over 600
Then I would write off the original price. If you paid $750 and sold them for $750 or less, there should be no tax.
Posted on 12/28/21 at 11:12 pm to tigergirl10
quote:
Federal, state, property, sales, Medicare, social security, rip-off health insurance=all bullshite. Damn near 65% to the government to waste.
Are you posting this as a woman?
Posted on 12/28/21 at 11:15 pm to tigergirl10
quote:
Damn near 65% to the government to waste.
Somewhere in the Middle East a transgendered person thanks you for that money, unless someone has already chunked them off a building.
Posted on 12/28/21 at 11:15 pm to johnqpublic
quote:
Then I would write off the original price. If you paid $750 and sold them for $750 or less, there should be no tax.
Sounds nifty but the onus is going to be on you to prove that you have no tax liability.
The enforcers are going to issue edicts first and then it is up to you to prove yourself innocent.
I'm sure our efficient IRS and their public servants will rectify the matter immediately.
Posted on 12/28/21 at 11:17 pm to johnqpublic
quote:This. If you sell for the purchase price then there's no tax to pay. Hopefully, this puts a pause on the bots.
Then I would write off the original price. If you paid $750 and sold them for $750 or less, there should be no tax.
Posted on 12/28/21 at 11:21 pm to Jimmy2shoes
All of you “stop breaking the law, a-hole” assholes seem to break the law a lot…
Posted on 12/28/21 at 11:23 pm to cable
quote:
The IRS better hire a lot more agents.
Not really. 1099-Ks are tracked by computer and if they aren't represented in a payer's 1040 computers send a letter. You have to be pretty far down the non-compliance road to actually get a human involved. The reduction to a $600 threshold is going to result in millions more 1099-Ks being issued. Prior to the American Rescue Plan Act the threshold was $20,000 and 200 transactions now it is $600 and no minimum transaction number. It will be a PITA for the TPSOs and complicate a lot of people's otherwise simple taxes when they have to file a Schedule C. I say Schedule C but I haven't looked to see if they are adding a new streamlined schedule for 1099-K recipients (like someone that just sold a few tickets) who don't actually run what most people would consider an online business.
Posted on 12/28/21 at 11:25 pm to LCA131
Walt isn’t a woman.
Posted on 12/28/21 at 11:27 pm to Joshjrn
quote:
All of you “stop breaking the law, a-hole” assholes seem to break the law a lot…
I'm sure you declared every online purchase before websites started charging sales tax
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