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- 229
- Joined
- Feb 9, 2013
Yeahh..
So I got an email from ebay about filing for 1099k , which was triggered after selling a pair of $600 kicks. Welcome to 2022 boys and girls. From what I've read online, The IRS considers any $ in your hand over $599 potential income.... rent paid to your roommate, money paid to the plug for "flowers" (drug dealers about to be cash only), the six times your friends pay the $100 back they borrowed, the 3 pairs of bricks your flipped on stockx, all subject to tax . Now with Brand new sneaker if you report it, you might as well pay the tax (in addition to the processing fees of the middle man). I expect those venmo type apps to lose popularity and crypto might take off for a while.. what do you guys think?
So I got an email from ebay about filing for 1099k , which was triggered after selling a pair of $600 kicks. Welcome to 2022 boys and girls. From what I've read online, The IRS considers any $ in your hand over $599 potential income.... rent paid to your roommate, money paid to the plug for "flowers" (drug dealers about to be cash only), the six times your friends pay the $100 back they borrowed, the 3 pairs of bricks your flipped on stockx, all subject to tax . Now with Brand new sneaker if you report it, you might as well pay the tax (in addition to the processing fees of the middle man). I expect those venmo type apps to lose popularity and crypto might take off for a while.. what do you guys think?