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Joined 4 months ago
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Cake day: December 25th, 2024

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  • That’s strange that they allow the sender to do that. The way it was when it first started is that everyone got the 1099-k over the $600, even for personal business.

    I sell a lot on ebay so I have to deal with this, but I usually have expenses like shipping to deduct. It’s a pain because I also sell personal items, so as long as I can show my basis in the item I can deduct it. This becomes difficult in certain situations. I bought factory alloy wheels for my car and sold the steel wheels for around $50/ea plus shipping. What is my basis in the wheels? It’s part of my car technically, but what percentage of the purchase price of the vehicle was wheels? I just didn’t bother trying to deduct that.