new 1099-K rules

Pjere · #1 01-03-2022, 06:53 AM

Quote:

Originally Posted by Johnny630

Paying taxes it’s a good problem to have it usually means you’ve done well on your cards :-) accept it and pay it. Don’t get wrapped up in trying to avoid taxes.

Agreed!

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chriskim · #2 01-03-2022, 07:06 AM

Quote:

Originally Posted by Pjere

Agreed!

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I agreed not to avoid paying tax.. but what about double taxed?

"If I purchase A tv for $700 in January of 2022 and decided to sell it on November of 2022 for $600 through one of those apps, I will be paying taxes for the $700 when I bought it and I’ll get a 1099K from the IRS on 2023 to pay taxes on the $600 I made off the tv I sold. "

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