Just going over the pros and cons. First, there is progress. Then there is congress.
Ah, the 1099-K reporting of kicking in on 1/1/2023 for 1/1/2022. This is if your item sold for more than $600.00. If you don't have an original receipt/proof of purchase, you get a 1099-K with more due in taxes even if you lost money because you can't show the loss on paper. Still, we have congress that passed this last year. Slow clap.
https://www.youtube.com/watch?v=92sX4kS5XNQ
Congress does something in a week? That's a good one. Still, there is a chance. About the same as a three-legged horse winning a race.
Have to wonder how creative the reporting is on final auction prices by consignors who paid cash on their original transactions.
Yes, I am aware of the previous discussion of this topic:
https://www.net54baseball.com/showth...ighlight=1099K
Happy Holidays!
