Boyer 2 Accountants
Level 2
02-18-2020
09:08 AM
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Client received a 1099-K for the sale of sporting goods which he owned personally. As I see it the only way to report, and avoid taxation, which is appropriate, is to file a Schedule C and report the gross proceeds as cost of goods sold.
Setting up the Schedule C is actually misleading as the taxpayer is not engaged in a trade or business.
Have any users come up with another solution?
Thanks
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