[GNC] easy way to total number of transactions and USD ammounts

[Brad Morrison]

Hi Jeff/all,

I encountered this issue a few weeks ago for a tax client with a short 
term rental property. Apparently, 2022 is a "transition" year for the 
new requirements for producing a form 1099K - 
https://www.irs.gov/businesses/understanding-your-form-1099-k

This VRBO page might be easier to read for some - 
https://help.vrbo.com/articles/About-1099-K-tax-form-reports

I do not know what your state requirements are (I don't even know what 
state you are in), but the form 1099K is a federal form, and the company 
that you are dealing with may be right that they are not required to 
produce a form 1099K for you for 2022, just FYI. It reminds me of that 
old Greg Palast (https://en.wikipedia.org/wiki/Greg_Palast) phrase, "The 
best democracy money can buy."

In other IRS/US tax news - 
https://www.propublica.org/article/how-to-file-taxes-for-free-without-turbotax

Brad

On 3/29/23 23:43, Jeff wrote:
> The IRS threw me a curve ball this year (imagine that).  One of their 
> tax forms went from $600 minimum to you, to $20,000 "AND" more than 
> 200 transactions in 2022.  Is there someone out there that can hold my 
> hand and show me how to export those transactions to a spreadsheet to 
> see if we fall into that level at the federal level, since there are 
> no reporting features in GNC that total $ and number of transactions, 
> at least that I am aware of?  I have not used spreadsheets for much of 
> anything since my college days, shall we say decades ago, so rusty is 
> an understatement.
>
> The real kicker is my state sets the minimum at $1,200, period.
>
> The company involved, has so far refused to provide me with a copy of 
> the 1099 involved.  It may or may not meet the federal level but I 
> know for a fact that it passes my states $ level of $1,200.
>
> Don't you just love our tax system in the U.S.A.? NOT!!!!!
>