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2011 GOLD high $1,500.00, SILVER high $24.00
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<p>[QUOTE="fatima, post: 1016420, member: 22143"]As the payee, you don't submit 1099s with tax forms <u>unless</u> taxes were withheld. For the vast majority of people receiving a 1099 this won't be the case. The IRS has long declared that proceeds from gambling are income and hence it's treated the same way. Since a W-2 only applies to income from wages, salary or tips (because it is a SS form) the 1099 is used for almost everything else. </p><p><br /></p><p>I'm not sure why Ebay would be sending 1099s. They only provide a controlled platform for auctions and sales to take place. They collect fees from the transactions however they would not be considered the payee or the payer.[/QUOTE]</p><p><br /></p>
[QUOTE="fatima, post: 1016420, member: 22143"]As the payee, you don't submit 1099s with tax forms [U]unless[/U] taxes were withheld. For the vast majority of people receiving a 1099 this won't be the case. The IRS has long declared that proceeds from gambling are income and hence it's treated the same way. Since a W-2 only applies to income from wages, salary or tips (because it is a SS form) the 1099 is used for almost everything else. I'm not sure why Ebay would be sending 1099s. They only provide a controlled platform for auctions and sales to take place. They collect fees from the transactions however they would not be considered the payee or the payer.[/QUOTE]
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