Check with your accountant before taking advice from someone (me) whose only credential is having stayed at a Holiday Inn once before COVID, but… No need to file a Sched C unless you’re buying and selling as a business and making a profit. No need to even report the 1099-K proceeds...
A man, called to testify at the Internal Revenue Service (IRS), asked his accountant for advice on what to wear. "Wear your shabbiest clothing. Let him think you are a pauper," the accountant replied. Then he asked his lawyer the same question but got the opposite advice. "Do not let...
"If that's the case, we're not going to take someone's liberty from them, on something that a (certified public accountant) with a master's degree doesn't even know. That's a scary country, and I don't live in that country." J. Gregory Damm, the assistant U.S. attorney who ...