Quote:
Originally Posted by jayshum
If you are already reporting card income, why is receiving a 1099 a hassle? Is it because all that is reported is the total amount sold with no indication of costs (and therefore profit)?
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I don't get that logic either. Most of the average person's income is already reported and papered: W2, 1099INT, K1, etc. What difference does it make if there is one one piece of paper in the pile? The tax reporting obligation remains the same regardless.