“These third-party settlement entities may not know for sure if they are dealing with a business or an individual or if they are dealing with a payment for goods or services, or a non-taxable transaction. It is going to be up to the taxpayer, if they receive a 1099 in any form for a nontaxable event, such as splitting rent among roommates, splitting a dinner bill, or even selling something on eBay for less than you paid for it, to explain to the IRS that the 1099 was received for a non-taxable transaction.
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- CNN 3 years ago
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"Mark Luscombe Quotes." Quotes.net. STANDS4 LLC, 2024. Web. 25 Dec. 2024. <https://www.quotes.net/citizen-quote/433788>.
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