Hey I am a poor guy who was wringing hands in worry about this, so much so that I got a second job last week to pay my taxes. This is freaking great news!
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I wasn't terribly worried about this as pretty much everything I sold, I sold at a loss. However, I don't exactly have receipts for things I bought used a decade ago. I was more concerned about how much documentation each transaction would require. Guess I'll be saving all my PayPal "receipts" for purchases henceforth. |
....and they have delayed it yet again. IRS delays controversial new rule on tax reporting for apps like Venmo |
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- 8 posts total