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#15
01-02-2022, 07:36 AM
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Bob,
Won't this require most to now file a schedule C as a business in regards to the 1099? Also for those selling used items on ebay, of which their basis is higher than the price realized(think used clothing or other household goods), do they now have a loss to offset other income? Or... since they sold the items for less than the original cost, has a "taxable event" actually occurred? And another thought. For those selling collectibles, it appears this 1099 will be lumped in and figured at the filers AGI marginal rate? Otherwise in the past it would/should have been filed as a collectible sale. So going forward those in the lower brackets would be far ahead. Just more food for thought. Last edited by sb1; 01-02-2022 at 08:14 AM. 
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