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<blockquote data-quote="milo-2" data-source="post: 2451087" data-attributes="member: 33622"><p>I have never had any interaction personally with the IRS, so thanks for the clarification. I just browsed my 2020 PP history, I could not tell what I sold, or what I purchased, not a note one in any transaction. Is that poor record keeping, or normal activity for most using PP as a money transfer system? So now, if I exceed the dollar limit of money coming in, and both the IRS and myself get a 1099 and a flag goes up. That 1099 is not going to state "sale of these listed items" sold, so if the IRS contacts me, I am now involved, and now I may have to prove what I actually sold. Whether in the right, or the wrong, who cares, it is now time I could have spent elsewhere.</p><p></p><p>I have no fear of the IRS, I have no reason to, that does not mean I desire to somehow, for some reason, need to get personal with them. Probably like 95% of the people who comment on this very topic. IMO, most who have issue with it, have probably been looking at alternatives to using PP as a means of exchanging funds, their antigun policies are clearly stated, yet we like to play with the system.</p><p>Honestly, I have tried to live my adult like w/o ever having direct contact with not only the IRS, but the FBI, BATFE, and Homeland security, not fear, just logical.</p><p>As for making a profit on resale items, I'm no different than anyone posting, prospering seems to be a myth.</p></blockquote><p></p>
[QUOTE="milo-2, post: 2451087, member: 33622"] I have never had any interaction personally with the IRS, so thanks for the clarification. I just browsed my 2020 PP history, I could not tell what I sold, or what I purchased, not a note one in any transaction. Is that poor record keeping, or normal activity for most using PP as a money transfer system? So now, if I exceed the dollar limit of money coming in, and both the IRS and myself get a 1099 and a flag goes up. That 1099 is not going to state "sale of these listed items" sold, so if the IRS contacts me, I am now involved, and now I may have to prove what I actually sold. Whether in the right, or the wrong, who cares, it is now time I could have spent elsewhere. I have no fear of the IRS, I have no reason to, that does not mean I desire to somehow, for some reason, need to get personal with them. Probably like 95% of the people who comment on this very topic. IMO, most who have issue with it, have probably been looking at alternatives to using PP as a means of exchanging funds, their antigun policies are clearly stated, yet we like to play with the system. Honestly, I have tried to live my adult like w/o ever having direct contact with not only the IRS, but the FBI, BATFE, and Homeland security, not fear, just logical. As for making a profit on resale items, I'm no different than anyone posting, prospering seems to be a myth. [/QUOTE]
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