UncleMeat11
UncleMeat11 t1_j1hilmm wrote
Reply to comment by amerovingian in IRS delays rule change for people who get paid on Venmo, Etsy, Airbnb and other apps by TerpFlacco
It'll take 15 minutes of reading and 10 minutes of data entry in a tax preparation software.
UncleMeat11 t1_iuefvzp wrote
Reply to comment by waitforsigns64 in Richmond, Virginia's last Confederate statue can be removed, judge rules by BollocksAsBalls
It wouldn't be relevant for a museum of the confederacy. As a historical object it is relevant to understand the people who created it, not the people it depicts.
UncleMeat11 t1_j1hiwjq wrote
Reply to comment by Deceptiveideas in IRS delays rule change for people who get paid on Venmo, Etsy, Airbnb and other apps by TerpFlacco
> If you get flagged, you need to prove you made less than $600 in profits which is difficult.
That's not true. The $600 boundary is meaningless when it comes to computing the taxes you owe. All you do is write the cost basis of the items you sold. This is easily done. If you donate clothes to goodwill or whatever you already do something similar to this when computing the value of your charitable deduction.
> My total sales amount to $3000+. This will definitely raise a red flag but nothing I sold was for profit
Why would it raise a red flag? You just fill out the basis on a 1099.