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Federal 1099K reporting limits revert back to $20k/ 200 transactions

LiquidatedLiquidated Posts: 315 ✭✭✭✭
edited July 7, 2025 6:55AM in U.S. Coin Forum

Legislation signed today under One Beautiful Bill reinstates the $20,000 / 200 transaction 1099K reporting requirements as found prior to 2021.

As many know the IRS had been trying to implement the $600 reporting limit signed 2021 under the American Rescue Plan Act.

This is Federal legislation that requires 3rd party reporting such as PayPal, eBay for business transactions.

Lower State limits can still trigger reporting of 1099K to IRS.

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Comments

  • oilers99oilers99 Posts: 226 ✭✭✭

    Does this take effect immediately, or retro to Jan 1, 2025?

  • HillbillyCollectorHillbillyCollector Posts: 681 ✭✭✭✭✭

    Per Perplexity, the 20k requirement doesn’t go into effect until Jan 1, 2026.
    For the 2025 year, the amount is $2500.

  • WQuarterFreddieWQuarterFreddie Posts: 3,004 ✭✭✭✭✭

    @Liquidated said:
    Legislation signed today under One Beautiful Bill reinstates the $20,000 / 200 transaction 1099K reporting requirements as found prior to 2021.

    As many know the IRS had been trying to implement the $600 reporting limit signed 2021 under the American Rescue Plan Act.

    This is Federal legislation that requires 3rd party reporting such as PayPal, eBay for business transactions.

    Lower State limits can still trigger reporting of 1099K to IRS.

    Key words are the lower State limits will apply. This recent legislation only matters if you live in a State where they don't have the lower limit.

    Maryland has a $600 threshold so an Ebay seller living in Maryland will still get a 1099-K and this will have to be reported on your Federal taxes too.

    Calling @jmlanzaf to tell everyone how we should all be self reporting all additional income anyway!🤣😂

  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭

    @WQuarterFreddie said:

    @Liquidated said:
    Legislation signed today under One Beautiful Bill reinstates the $20,000 / 200 transaction 1099K reporting requirements as found prior to 2021.

    As many know the IRS had been trying to implement the $600 reporting limit signed 2021 under the American Rescue Plan Act.

    This is Federal legislation that requires 3rd party reporting such as PayPal, eBay for business transactions.

    Lower State limits can still trigger reporting of 1099K to IRS.

    Key words are the lower State limits will apply. This recent legislation only matters if you live in a State where they don't have the lower limit.

    Maryland has a $600 threshold so an Ebay seller living in Maryland will still get a 1099-K and this will have to be reported on your Federal taxes too.

    Calling @jmlanzaf to tell everyone how we should all be self reporting all additional income anyway!🤣😂

    Lol. You are required to report income which you apparently knew without my mentioning it

  • Morgan WhiteMorgan White Posts: 8,344 ✭✭✭✭✭

    @WQuarterFreddie said:

    @Liquidated said:
    Legislation signed today under One Beautiful Bill reinstates the $20,000 / 200 transaction 1099K reporting requirements as found prior to 2021.

    As many know the IRS had been trying to implement the $600 reporting limit signed 2021 under the American Rescue Plan Act.

    This is Federal legislation that requires 3rd party reporting such as PayPal, eBay for business transactions.

    Lower State limits can still trigger reporting of 1099K to IRS.

    Key words are the lower State limits will apply. This recent legislation only matters if you live in a State where they don't have the lower limit.

    Maryland has a $600 threshold so an Ebay seller living in Maryland will still get a 1099-K and this will have to be reported on your Federal taxes too.

    Calling @jmlanzaf to tell everyone how we should all be self reporting all additional income anyway!🤣😂

    Lol, he loves paying taxes.

  • GRANDAMGRANDAM Posts: 8,723 ✭✭✭✭✭

    @GRANDAM said:
    No taxes on Social Security either, good for us old folks. More money to buy coins with.

    Does anyone know if this is effective for 2025 taxes?

    GrandAm :)
  • MsMorrisineMsMorrisine Posts: 35,477 ✭✭✭✭✭
    edited July 3, 2025 7:19PM

    @GRANDAM said:
    Does anyone know if this is effective for 2025 taxes?

    it is not. 1099 incoming

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • pcgsregistrycollectorpcgsregistrycollector Posts: 1,182 ✭✭✭✭

    Lets frickin go. Now I can buy more coins! :#

    God comes first in everything I do. I’m dedicated to serving Him with my whole life. Coin collecting is just a hobby—but even in that, I seek to honor Him. ✝️

  • GRANDAMGRANDAM Posts: 8,723 ✭✭✭✭✭

    @MsMorrisine said:

    @GRANDAM said:
    Does anyone know if this is effective for 2025 taxes?

    it is not. 1099 incoming

    No, I mean the no tax on Social Security.

    GrandAm :)
  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭
    edited July 4, 2025 5:29AM

    @Morgan White said:

    @jmlanzaf said:

    @Morgan White said:

    @WQuarterFreddie said:

    @Liquidated said:
    Legislation signed today under One Beautiful Bill reinstates the $20,000 / 200 transaction 1099K reporting requirements as found prior to 2021.

    As many know the IRS had been trying to implement the $600 reporting limit signed 2021 under the American Rescue Plan Act.

    This is Federal legislation that requires 3rd party reporting such as PayPal, eBay for business transactions.

    Lower State limits can still trigger reporting of 1099K to IRS.

    Key words are the lower State limits will apply. This recent legislation only matters if you live in a State where they don't have the lower limit.

    Maryland has a $600 threshold so an Ebay seller living in Maryland will still get a 1099-K and this will have to be reported on your Federal taxes too.

    Calling @jmlanzaf to tell everyone how we should all be self reporting all additional income anyway!🤣😂

    Lol, he loves paying taxes.

    No. He simply wants everyone to play fair. Apparently you like liars and cheats.

    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    And who did i report? Informing people about the laws is not exactly "policing" nor "loving paying taxes". If you'd like to write more fiction, perhaps find a new protagonist.

  • Morgan13Morgan13 Posts: 1,608 ✭✭✭✭✭

    As far as paying taxes I have never made a dime on selling a coin.
    Unfortunately I am more on the retail side. I do believe I have a couple of very good purchases.
    I know dealers typically sell on the wholesale side of things leaving room for a fair 10%-15% profit.

    Student of numismatics and collector of Morgan dollars
    Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
    Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7

  • Old_CollectorOld_Collector Posts: 321 ✭✭✭✭

    @GRANDAM said:

    @GRANDAM said:
    No taxes on Social Security either, good for us old folks. More money to buy coins with.

    Does anyone know if this is effective for 2025 taxes?

    All of the main provisions that effect those on Medicare or taxes on tips and 100% bonus depreciation is all retroactive to January 1, 2025. Some things, like the 1099 limits phase in after the bills is signed.

  • lkeneficlkenefic Posts: 8,512 ✭✭✭✭✭

    OK... hypothetical... I live in Maryland. Let's say I buy a coin for $700. I own it for a little while and then sell it for $600... am I reporting $600 profit on a 1099, or is this a $100 loss?

    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

    Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
  • MsMorrisineMsMorrisine Posts: 35,477 ✭✭✭✭✭

    @GRANDAM said:

    @MsMorrisine said:

    @GRANDAM said:
    Does anyone know if this is effective for 2025 taxes?

    it is not. 1099 incoming

    No, I mean the no tax on Social Security.

    https://www.investopedia.com/eliminating-social-security-taxes-big-beautiful-bill-provides-senior-bonus-11743513

    read the whole thing but focus from this start point

    What Is Included In The Bill?
    Instead of eliminating taxes on Social Security benefits, the Senate's version of the Big Beautiful Bill calls for a tax break of up to $6,000 per person, which would be phased out at higher incomes.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • WQuarterFreddieWQuarterFreddie Posts: 3,004 ✭✭✭✭✭
    edited July 4, 2025 7:38AM

    @lkenefic said:
    OK... hypothetical... I live in Maryland. Let's say I buy a coin for $700. I own it for a little while and then sell it for $600... am I reporting $600 profit on a 1099, or is this a $100 loss?

    If you sell it on Ebay or any other Third Party platform that processes the payment then you will receive a 1099-K for the total sales dollars. I believe you file a Schedule C tax form where you can deduct expenses. If you have the $700 receipt then you should be ok to use that as a deduction

    I am not a tax advisor nor should you follow my advice in anyway.🤣😂

  • lkeneficlkenefic Posts: 8,512 ✭✭✭✭✭

    @WQuarterFreddie said:

    @lkenefic said:
    OK... hypothetical... I live in Maryland. Let's say I buy a coin for $700. I own it for a little while and then sell it for $600... am I reporting $600 profit on a 1099, or is this a $100 loss?

    If you sell it on Ebay or any other Third Party platform that processes the payment then you will receive a 1099-K for the total sales dollars. I believe you file a Schedule C tax form where you can deduct expenses. If you have the $700 receipt then you should be ok to use that as a deduction

    I am not a tax advisor nor should you follow my advice in anyway.🤣😂

    lol! No worries!! I won't sue... ;)

    I thought there was some mechanism for reporting this... the last time I sold anything substantial on ebay was well over 10 years ago! I have receipts for coins I purchase in person at a show... I suppose I also have electronic "receipts" for stuff I purchased on ebay or other auctions.

    Bottom line... looking to retire in PA...

    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

    Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭

    @lkenefic said:
    OK... hypothetical... I live in Maryland. Let's say I buy a coin for $700. I own it for a little while and then sell it for $600... am I reporting $600 profit on a 1099, or is this a $100 loss?

    It's a $100 loss

  • Morgan13Morgan13 Posts: 1,608 ✭✭✭✭✭

    So is it only on the state level or does the schedule C need to be submitted to the Fed and the state if the state requires it? .

    Student of numismatics and collector of Morgan dollars
    Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
    Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7

  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭

    @Morgan13 said:
    So is it only on the state level or does the schedule C need to be submitted to the Fed and the state if the state requires it? .

    May depend on the state. NY simply accepts the data from the 1040. See a tax professional.

  • Morgan13Morgan13 Posts: 1,608 ✭✭✭✭✭
    edited July 4, 2025 8:20AM

    @jmlanzaf said:

    @Morgan13 said:
    So is it only on the state level or does the schedule C need to be submitted to the Fed and the state if the state requires it? .

    May depend on the state. NY simply accepts the data from the 1040. See a tax professional. In in MA

    I intend to but during this conversation we can toss around the conversation and get a bit of a grasp on this new law.
    Or maybe not.

    Student of numismatics and collector of Morgan dollars
    Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
    Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7

  • lkeneficlkenefic Posts: 8,512 ✭✭✭✭✭

    @jmlanzaf said:

    @lkenefic said:
    OK... hypothetical... I live in Maryland. Let's say I buy a coin for $700. I own it for a little while and then sell it for $600... am I reporting $600 profit on a 1099, or is this a $100 loss?

    It's a $100 loss

    ...assuming I still have that receipt.

    How are entire collections handled where I'd give someone $1000 for everything... I suppose a dealer would have to itemize everything and assign a dollar value? I imagine this gets a little tricky around tax time...

    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

    Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭

    @lkenefic said:

    @jmlanzaf said:

    @lkenefic said:
    OK... hypothetical... I live in Maryland. Let's say I buy a coin for $700. I own it for a little while and then sell it for $600... am I reporting $600 profit on a 1099, or is this a $100 loss?

    It's a $100 loss

    ...assuming I still have that receipt.

    How are entire collections handled where I'd give someone $1000 for everything... I suppose a dealer would have to itemize everything and assign a dollar value? I imagine this gets a little tricky around tax time...

    There are different accepted inventory strategies. But the individual cost basis would only be an issue during an audit. And the IRS is reasonable about this.

    A few years ago, the IRS sent me a bill. I explained the flaws in my accounting. I offered to supply them with a thousand line spread sheet. They told me to just amend the return and supply a short written explanation which they accepted and sent me a (still funny) check for 64 cents.

  • Morgan WhiteMorgan White Posts: 8,344 ✭✭✭✭✭

    @jmlanzaf said:

    @lkenefic said:

    @jmlanzaf said:

    @lkenefic said:
    OK... hypothetical... I live in Maryland. Let's say I buy a coin for $700. I own it for a little while and then sell it for $600... am I reporting $600 profit on a 1099, or is this a $100 loss?

    It's a $100 loss

    ...assuming I still have that receipt.

    How are entire collections handled where I'd give someone $1000 for everything... I suppose a dealer would have to itemize everything and assign a dollar value? I imagine this gets a little tricky around tax time...

    There are different accepted inventory strategies. But the individual cost basis would only be an issue during an audit. And the IRS is reasonable about this.

    A few years ago, the IRS sent me a bill. I explained the flaws in my accounting. I offered to supply them with a thousand line spread sheet. They told me to just amend the return and supply a short written explanation which they accepted and sent me a (still funny) check for 64 cents.

  • WQuarterFreddieWQuarterFreddie Posts: 3,004 ✭✭✭✭✭

    @JBK said:

    @lkenefic said:
    OK... hypothetical... I live in Maryland. Let's say I buy a coin for $700. I own it for a little while and then sell it for $600... am I reporting $600 profit on a 1099, or is this a $100 loss?

    Hobbyists can't deduct losses, but you do have to report gains. That's one of the things that makes the 1099Ks so insidious. They put you on the map and you have to report income that may not even be taxable. And if you don't have receipts from when you bought the item you might be up a creek when you claim that you didn't make a profit when you sold it. It puts a target on your back.

    If you sell on Ebay then you are a " business ".

    I am not a tax advisor so don't take my advice. 😂🤣

  • JBKJBK Posts: 16,329 ✭✭✭✭✭

    @WQuarterFreddie said:

    @JBK said:

    @lkenefic said:
    OK... hypothetical... I live in Maryland. Let's say I buy a coin for $700. I own it for a little while and then sell it for $600... am I reporting $600 profit on a 1099, or is this a $100 loss?

    Hobbyists can't deduct losses, but you do have to report gains. That's one of the things that makes the 1099Ks so insidious. They put you on the map and you have to report income that may not even be taxable. And if you don't have receipts from when you bought the item you might be up a creek when you claim that you didn't make a profit when you sold it. It puts a target on your back.

    If you sell on Ebay then you are a " business ".

    I am not a tax advisor so don't take my advice. 😂🤣

    Not according to the IRS....

  • jmski52jmski52 Posts: 23,197 ✭✭✭✭✭

    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭

    @jmski52 said:
    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    Thank you. I don't like taxes or paperwork. I just want a level playing field.

  • MaywoodMaywood Posts: 2,839 ✭✭✭✭✭

    Nobody likes to pay taxes but those same people sure enjoy what those taxes pay for.

    "Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin

  • Morgan WhiteMorgan White Posts: 8,344 ✭✭✭✭✭

    @jmski52 said:
    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    It's like Karen who chased you around making sure you wore your covid mask, you know, because it's your obligation as a citizen. So yeah, it's exactly like policing.

  • JBKJBK Posts: 16,329 ✭✭✭✭✭

    @jmlanzaf said:

    @jmski52 said:
    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    Thank you. I don't like taxes or paperwork. I just want a level playing field.

    Except when it comes to the mint's ordering limits. You're happy to game the system with multiple accounts so you can exceed the one-per-HH limits. 😆

  • jmski52jmski52 Posts: 23,197 ✭✭✭✭✭

    It's like Karen who chased you around making sure you wore your covid mask, you know, because it's your obligation as a citizen. So yeah, it's exactly like policing.

    "methinks the lady doth protest too much"

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭

    @JBK said:

    @jmlanzaf said:

    @jmski52 said:
    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    Thank you. I don't like taxes or paperwork. I just want a level playing field.

    Except when it comes to the mint's ordering limits. You're happy to game the system with multiple accounts so you can exceed the one-per-HH limits. 😆

    Still a level playing field. Everyone can do what I do. Don't you have friends or relatives? Every coin i get goes to a separate household.

    Your apology is accepted.

  • Morgan WhiteMorgan White Posts: 8,344 ✭✭✭✭✭

    @jmski52 said:
    It's like Karen who chased you around making sure you wore your covid mask, you know, because it's your obligation as a citizen. So yeah, it's exactly like policing.

    "methinks the lady doth protest too much"

    Probably, I'm primarily here just to post memes.

  • WQuarterFreddieWQuarterFreddie Posts: 3,004 ✭✭✭✭✭

    Ok everyone! Just calm down.🤣😂

  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭
    edited July 5, 2025 9:15AM

    @JBK said:

    @jmlanzaf said:

    @jmski52 said:
    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    Thank you. I don't like taxes or paperwork. I just want a level playing field.

    Except when it comes to the mint's ordering limits. You're happy to game the system with multiple accounts so you can exceed the one-per-HH limits. 😆

    I have NEVER exceeded the one per household limit. All my coins ship to separate households.

  • SoFloSoFlo Posts: 540 ✭✭✭✭
    edited July 5, 2025 9:23AM

    Ebay hasn't updated the information yet -

    IRS minimum reporting thresholds 2023 2024 2025 2026
    Gross payments $20,000 $5,000 $2,500 $600
    Transactions 200 N/A N/A N/A

    Wisdom has been chasing you but, you've always been faster

  • WQuarterFreddieWQuarterFreddie Posts: 3,004 ✭✭✭✭✭

    @jmlanzaf said:

    @JBK said:

    @jmlanzaf said:

    @jmski52 said:
    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    Thank you. I don't like taxes or paperwork. I just want a level playing field.

    Except when it comes to the mint's ordering limits. You're happy to game the system with multiple accounts so you can exceed the one-per-HH limits. 😆

    I have NEVER exceeded the one per household limit. All my coins ship to separate households.

    But that is cheating the system put in place by the Mint.

    Ultimately, those coins are bought for you to resell for a profit.

    To be clear, just because anyone can do it that doesn't make it right.

    You can't have it both ways. You want a level playing field regarding taxes but admittedly skirt the level playing field the Mint has set for retail buyers. You sir are GUILTY as charged.🤣😂

  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭

    @JBK said:

    @jmlanzaf said:

    @JBK said:

    @jmlanzaf said:

    @jmski52 said:
    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    Thank you. I don't like taxes or paperwork. I just want a level playing field.

    Except when it comes to the mint's ordering limits. You're happy to game the system with multiple accounts so you can exceed the one-per-HH limits. 😆

    I have NEVER exceeded the one per household limit. All my coins ship to separate households.

    You understand very well the purpose of the HHL. They didn't just say one per person because they didn't want multiple people within a household ordering on behalf of one person. The idea is that one person doesn't get multiple coins. You are doing just that. Your "friends" are proxies buying on your behalf. If the mint had a way to prevent that then they would.

    They might. Nonetheless it is a HHL policy not a one per individual policy. And every flipper here who bought one at their house is a proxy for Pinehurst. It's still a HHL not an individual limit policy. It appears you are the pious scold.

  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭

    @JBK said:

    @jmlanzaf said:

    @JBK said:

    @jmlanzaf said:

    @JBK said:

    @jmlanzaf said:

    @jmski52 said:
    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    Thank you. I don't like taxes or paperwork. I just want a level playing field.

    Except when it comes to the mint's ordering limits. You're happy to game the system with multiple accounts so you can exceed the one-per-HH limits. 😆

    Still a level playing field. Everyone can do what I do. Don't you have friends or relatives? Every coin i get goes to a separate household.

    Your apology is accepted.

    By your analogy cheating on your taxes is OK because everyone can do it if they want to.

    You live by a double standard and your convoluted and corrupted moral compass is exposed. What makes it worse is when a pious scold is the one with the inconsistent values.

    Your apology us accepted.

    Wow.

    1. I have obeyed the HHL limit because every coin goes to a separate household. And if you had any friends you could do the same. The Mint does not have a one per person policy, it has a one per household.
    2. I didn't even mention anything about taxes and tax cheats on this thread until I was specifically tagged and called to this thread.
    3. i have one standard.
    4. I report everything including cash payments at garage sales.
    5. You might want to see your doctor. There's something evil growing within you.
    6. i apologize for nothing on this thread.
    7. Feel free to cheat on your taxes, beat your wife, set fire to your neighbor's house. I'm not going to stop you. I've never called the police on anyone nor reported anyone to a governmental agency of any kind. So this entire mischaracterization of me is without foundation.
    8. Have a day. I really don't care if it's good or not.

    Quoting so it's still here when the mods come in on Monday. ;)

    Good. You launched, without provocation, an insulting tirade at me not the other way around.

  • jmlanzafjmlanzaf Posts: 36,132 ✭✭✭✭✭

    @WQuarterFreddie said:

    @jmlanzaf said:

    @JBK said:

    @jmlanzaf said:

    @jmski52 said:
    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    Thank you. I don't like taxes or paperwork. I just want a level playing field.

    Except when it comes to the mint's ordering limits. You're happy to game the system with multiple accounts so you can exceed the one-per-HH limits. 😆

    I have NEVER exceeded the one per household limit. All my coins ship to separate households.

    But that is cheating the system put in place by the Mint.

    Ultimately, those coins are bought for you to resell for a profit.

    To be clear, just because anyone can do it that doesn't make it right.

    You can't have it both ways. You want a level playing field regarding taxes but admittedly skirt the level playing field the Mint has set for retail buyers. You sir are GUILTY as charged.🤣😂

    It is a HHL. There is no policy much less no law against my mother buying one on my behalf. I am guilty of having helpful friends and relatives.

    Have a day

  • WQuarterFreddieWQuarterFreddie Posts: 3,004 ✭✭✭✭✭

    I believe we have reached the point for @MFeld to enter this discussion with his voice of reason!🤣😂

  • WQuarterFreddieWQuarterFreddie Posts: 3,004 ✭✭✭✭✭

    @jmlanzaf said:

    @WQuarterFreddie said:

    @jmlanzaf said:

    @JBK said:

    @jmlanzaf said:

    @jmski52 said:
    No, I don't cheat. I also don't feel the need to police everyone else about it either.

    Suggesting that jmlanzaf is some sort of tax police simply by pointing out your obligation as a taxpayer - is ludicrous.

    Forcing 1099s onto taxpayers is an abuse of taxpayers, but suggesting that anyone skirt the law by not reporting income clearly shows a bias towards cheating.

    That's not to say that gov.com has anything but total control in mind, which in itself is totally detestable.

    Thank you. I don't like taxes or paperwork. I just want a level playing field.

    Except when it comes to the mint's ordering limits. You're happy to game the system with multiple accounts so you can exceed the one-per-HH limits. 😆

    I have NEVER exceeded the one per household limit. All my coins ship to separate households.

    But that is cheating the system put in place by the Mint.

    Ultimately, those coins are bought for you to resell for a profit.

    To be clear, just because anyone can do it that doesn't make it right.

    You can't have it both ways. You want a level playing field regarding taxes but admittedly skirt the level playing field the Mint has set for retail buyers. You sir are GUILTY as charged.🤣😂

    It is a HHL. There is no policy much less no law against my mother buying one on my behalf. I am guilty of having helpful friends and relatives.

    Have a day

    Relax dude. I was obviously making a joke. You have done the same to me in the past. 🙄

  • AUandAGAUandAG Posts: 24,919 ✭✭✭✭✭

    Since I don't like to interpret legislation I just asked GROK if the roll back is for 2025 and got this response: this change applies to the 2025 tax year and beyond, meaning it will affect 1099-K reporting for transactions starting in 2025.

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • Pnies20Pnies20 Posts: 2,467 ✭✭✭✭✭

    Please no. Just put this thread out of its misery.

    BHNC #248 … 130 and counting.

This discussion has been closed.