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

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  • BLUEJAYWAYBLUEJAYWAY Posts: 10,007 ✭✭✭✭✭

    I forgot to report the .32 cents I made from my lemonade stand sales when I was 7 years old 😆

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • jmlanzafjmlanzaf Posts: 36,216 ✭✭✭✭✭

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

    Bye> @WQuarterFreddie said:

    @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. 🙄

    Sorry, brother. I was a little upset about the tirade from "the other guy" on a thread I let myself get pulled into.

    Wishing YOU a PLEASANT day! 😅

  • logger7logger7 Posts: 8,975 ✭✭✭✭✭

    Do your best, work in all your deductions and pay what you owe. Understating the gross is a no-no.

  • BLUEJAYWAYBLUEJAYWAY Posts: 10,007 ✭✭✭✭✭

    @WQuarterFreddie said:
    Ok everyone! Just calm down.🤣😂

    Is this taxable?😀

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
This discussion has been closed.