This board has been migrated to our new platform! Check out the new home page at discussion.fool.com or click below to go directly to the new Board on the new site.
What a rip. Have to claim a gain but can't take a loss. Talk about having their cake and eating it also!So if it's just personal items, and I can't claim a loss, how do I fill out the Sch C? The income would have to be what the 1099-K says. And if I can't claim expenses of MORE than that, then I have to claim expenses exactly equal to the income so the bottom line is zero? That's weird, since it is a lie. The expenses will NOT in reality be exactly equal to the income.Also, they won't be able to distinguish that it's just a personal item Sch C vs a business that is constantly zero bottom line. If they are going to pull this kind of nonsense, there should at least be a way to claim it as personal items sold without faking a business Sch C!
Best Of |
Favorites & Replies |
My Fool |