January 1 could be interesting thanks to congress.

bobbyw8469 · #1 12-10-2022, 09:38 AM

Quote:

Originally Posted by Jason19th

The IRS is not coming for us. Everyone need to calm down. The law has not changed. It was always our responsibility to account for our sales and profits. The IRS is not going to assume that we bought all of our cards for zero. They are not going to second guess reasonable valuations and expenses. They don�t have the time for this for people who are getting a couple of 1099�s. Now that may be different for people with hundreds of thousands in sales. But those people are running businesses and should be held to the standard of people who run businesses.

It's a nightmare for the casual seller. I guess they want to set up at my next yard sale as well.

soxinseven · #2 12-10-2022, 05:13 PM

Quote:

Originally Posted by bobbyw8469

It's a nightmare for the casual seller. I guess they want to set up at my next yard sale as well.

It's not a new development for some of us. Massachusetts and some other states have been doing this since 2017. Seems like it's pretty much nationwide now, with a few exceptions I'm sure.

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