JGalt
Diamond Member
- Mar 9, 2011
- 71,905
- 87,288
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- Banned
- #41
Which deductions did they do away with?
They did reduce the $20,000 amount before your get a 1099k from payment processors like Ebay and Venmo, down to $600. The IRS did bump it up to $5,000 before you'd get smacked with a 1099k, but that caused a lot of people to quit selling stuff online.
That was part of Shithead Biden's Inflation Reduction Act.