Paypal Changes for 2022
If I understand this correctly, Paypal, along with all on-line payment sources like Venmo, etc. will now be sending out 1099 forms for all payments totaling $600 you receive in 2022 for goods or services. The only way around this is to use Paypal friends and family for payment which eliminates any buyer protections. Is everyone aware of this?
For some reason: my reference to fiat money, who actually owns the Federal Reserve, the economy and how they all relate, got cancelled (pathetic). I expect: this will as well. Before it does: anyone interested in the facts regarding the above (and more), should copy/paste this in their search bar, obtain and read the book. https://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986212 |
@thyname: Don't know if you got my answer to your query (01-11-2022 7:36 PM), before it was so rudely cancelled. Once again: https://www.investopedia.com/terms/c/capitalloss.asp
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Some people have a really skewed and fact free notion of how things work. Most of it sounds like a grade school level rationalization of a desire to gaslight people. Good luck with that. Maybe a career writing for right wing news is in order as they have a willing and uncritical following that will eat that crap up. All the best, |
Thanks @rodman99999, I wish these qualify as capital loss, but I am afraid this is too good to be true. More likely a personal item kinda thing, that you cannot take a tax loss for, or a hobby classification. Hopefully a CPA can chime in here. Thank you though |
