2. amps-preamps
  3. 168512-109649

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

I had multiple transactions here and at US Audio Mart in 2019 and yesterday received a letter from the IRS stating the transactions were "Taxable Income" anyone else ever experience that with Paypal and now what?
Fighting the IRS is not something I look forward to!
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Showing 4 responses by eag618

eag618's avatar
eag618 OP
85 posts
 
There 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.

eag618's avatar
eag618 OP
85 posts
 
I'm meeting an IRS rep on Wednesday morning in Providence!
eag618's avatar
eag618 OP
85 posts
 
Viridian,That was funny as hell!
eag618's avatar
eag618 OP
85 posts
 
Wednesday morning I was at the IRS Office in Providence RI, the gentleman there informd me that I need to fill out a "Schedule C" which is a business's identification of costs associated with a sale.

Will post how this all goes 
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