PayPal 1099 - bad news for MA and VT residents

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#10

02-06-2018, 08:38 AM

Peter_Spaeth Peter_Spaeth is offline

Peter Spaeth

Member

Join Date: Apr 2009

Posts: 33,730

Quote:

Originally Posted by Snapolit1

Do not believe that's true unless you can substantiate that you are running a business and not a hobby. Occasional sales probably a hobby. Can't offset hobby expenses.

That's always been my understanding.

So if I buy a card for 1000 and sell it for 800 I owe taxes?

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