according to the IRS. If you made a profit selling an item — meaning the sales price is more than what you originally paid — you need to report that gain on Form 8949 and Schedule D.

Learn which payment apps report transactions to the IRS, including Zelle, Venmo, and CashApp. Understand how reporting requirements affect your taxes in 2024.

you must report it as a capital gain on Form 8949 and Schedule D. Meanwhile, President Donald Trump issued an indefinite hiring freeze for the IRS Monday, which will remain in place until his ...

Form 1099-B is a tax form issued by brokers or barter exchanges to both the IRS and the taxpayer. It provides details about ...

If you sell personal items at a gain, you report that as capital gain on Form 8949 and Schedule D. If you get a 1099-K and don’t report it, it could generate an IRS notice within a year or two ...

If this information is left out of your taxes, you could receive a CP2000, Unreported Income notice from the IRS. So it’s important to report on Schedule D and Form 8949 if applicable.