Thread: IRS Form 1099 from Mastro Auctions
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Old 02-24-2008, 11:40 AM
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Default IRS Form 1099 from Mastro Auctions
Posted By: raymond g. pasternak

Mike,
I disagree with Brian, if you are truely a hobbyist (ITS NOT A BUSINESS), you must report your NET TAXABLE INCOME from hobby transactions, you can however itemize deductions up to the amount of hobby income, but no more than the income. Its different if your transactions constitute a BUSINESS!!!

Ray

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