THE IRS HAS TAKEN MY TRANSACTIONS VIA PAYPAL AND IDENTIFIED THEM AS TAXABLE INCOME

Stop talking about it here, and hire a good "tax guy". If you profited on those sales, you'll owe some additional taxes.

eag618 OP75 posts08-06-2021 11:58amThere was no Profitmaking, they were all losses, yet PAYPAL sent the IRS a 1099 statement.......There were 4 transactions, 2 Primaluna amps and a pair of Klipsch Forte III's and a Jolida JD9 MKII.

If they sent the Feds a 1099, they would've sent you one, too.

eag618 OP76 posts08-06-2021 5:33pm..... and "Builder 3" I'm 66 and have been running the same business locally for close to 30 years, we do over a $Billion with steel.I understand taxes, the economy and how things work...this is Bullshit.
So if one sells their 1 year old Porsche 911 for zero profit and gets out of it, is that "taxable income" I think not.

What are you bitching at me about? The IRS only cares about one thing, taxable income. Show them proof that it's a loss and not a gain, they'll go away.For somebody that professes to know so much, you're the one that came on a stereo forum, of all places, and asked "now what?". Deal with, it's not complicated. If you don't know, hire someone that does.