Quote:
Originally Posted by swarmee
Based on the post you responded to, I think bnorth was questioning whether or not to take deductions on the $2000 (in your example) or just pay the full tax owed on it. He wasn't talking about not claiming it at all.
Edit: thought it was originally posted by someone else.
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Wasn't exactly sure what he meant either, as he mentioned just paying the tax, or getting an accountant to help. I thought he may have been referring back to what Bill/birdman42 had said earlier about the IRS sending a letter and tax bill to people who wouldn't properly be reporting their 1099-K info on their returns, and just paying that IRS tax bill as opposed to hiring an accountant/tax preparer to prepare and file their return correctly to begin with.
Even if my interpretation of his question was wrong, my post is still relevant to show people they are probably better off getting an accountant/tax preparer to help them properly file if they can't do so themselves. At least for the first year they get a 1099-K.