Alan had thoughts about tax audits in 2022
January 26th, 2025 at 6:42:23 AM
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Getting Picked For An IRS Audit: Your Chances And What Triggers Them. Deductions, 1099s, Casinos. - Alan Mendelson - Jan 18, 2022 - 99 subscribers
Google tends to delete channels after so much time of inactivity.
Form 1099-DA (Digital Assets) just debuted a couple weeks ago.
Google tends to delete channels after so much time of inactivity.
Form 1099-DA (Digital Assets) just debuted a couple weeks ago.
Last edited by: ChumpChange on Jan 26, 2025
January 26th, 2025 at 11:12:18 AM
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well that was a complete waste of time except for maybe somebody who is filing for the first time in his life
to make this a useful thread, can someone who got a surprise audit about his gambling income tell his story
to make this a useful thread, can someone who got a surprise audit about his gambling income tell his story
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
January 26th, 2025 at 3:35:38 PM
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I ran across this long video seminar at the IRS website describing:
Form 1099-DA - Digital Assets: Existing and New Reporting Requirements (seems bitcoin-centric)
From a CPA:
IRS Issues NEW 1099-K Rules You Need to Know!
There's reporting requirements that used to be not worried about that are being lowered to $5K/yr this past year, $2.5K/yr this year, and $600/year in 2026. This is for the gig economy or e-bay auction economy or service economy.
From another CPA:
Do You Need to Issue a 1099? 1099-NEC & 1099-MISC Explained
I still don't know if people get 1099 forms for cashing in rewards points valued at over $600 on their casino card during the year or if free hotel rooms get a tax treatment besides the resort fee and parking fee. If you cash in your points for free play at half price, I don't think you'd get a tax form; so why would getting fifty $15 cheeseburgers on points draw a tax form? idk I was under the impression points earned on a slot machine or table game weren't taxable because they are rebates.
Form 1099-DA - Digital Assets: Existing and New Reporting Requirements (seems bitcoin-centric)
From a CPA:
IRS Issues NEW 1099-K Rules You Need to Know!
There's reporting requirements that used to be not worried about that are being lowered to $5K/yr this past year, $2.5K/yr this year, and $600/year in 2026. This is for the gig economy or e-bay auction economy or service economy.
From another CPA:
Do You Need to Issue a 1099? 1099-NEC & 1099-MISC Explained
I still don't know if people get 1099 forms for cashing in rewards points valued at over $600 on their casino card during the year or if free hotel rooms get a tax treatment besides the resort fee and parking fee. If you cash in your points for free play at half price, I don't think you'd get a tax form; so why would getting fifty $15 cheeseburgers on points draw a tax form? idk I was under the impression points earned on a slot machine or table game weren't taxable because they are rebates.
