[GNC] Why is part of a split registered as "rebate" in the Transfer account?

[Michael or Penny Novack]

On 11/25/2024 12:25 PM, Boniforti Flavio wrote:
> Hi David.
> No taxation and regulations needed here: I'm a private individual, not a
> business.
>
It's why we can't advise on stuff like THAT. The rules depend on 
jurisdiction as well as status. Here in the US technically status does 
not matter (in theory individuals also own "gains" tax) but 
practicality. For example, here in th US an individual would in theory 
owe but in reality they don't look at small stuff like that. But if that 
was a cello you bought for 10,000, spent 2,000 to get it refurbished, 
and then ended up selling it for 20,000, maybe better report.

But with status + jurisdiction can get very complicated. Thus if HERE 
and an organization the account "shipping cost" would be a parent with 
two children, "postal" and "non-postal" << total printing and postage is 
a line item expense on the 990/990EZ --- note: non-profit orgs aren't 
paying taxes, for some reason the gov't just wants to know how much of 
what the non-profit spends on is coming back to the gov't in this way >> 
In other words, would matter HOW shipped, not just what that cost.

Understand? WE don't know, until you tell us, whether will need to take 
account of taxes.

Michael d Novack