PayPal & IRS Issue

Out of context: Reply #23

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The crappy thing about this 1099 paypal rule is that when you change camera gear or any high priced items, you have to pay taxes on any money thats comes in.
Even though you are not a retailer or merchant who does this to earn income.
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- Well technically you have to pay taxes on it regardlessukit
- really? why is that? I guess anything you bought and sell counts as income. just like property.
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- Anything you sell that you made a profit on counts as income. However the risk of audit is quite low.ukit
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