wrote: Additional food for thought, using a theoretical example. I get 1099K for $3000. I then proceed to redo my taxes to resubmit my return. Figuring the items I sold on eBay and other places I had taken a loss on I would be OK. Then I realize as I'm adding up the Cost Of Goods Sold, most of the items I bought online. Some had no sales tax paid on them because of this. So should I then pay the state the 6.25% sales tax so that I can then write of the item to save the 5.1% State Tax? Basically your **bleep** is what I'm getting at. If audited, they will most likely make sure you paid the sales tax on the items you sold and if not, your going to get hit with a double whammy. For my own personal situation, I might just pay the tax on the 1099K and call it a day. Time is money and spending hours redoing my taxes and digging through receipts going years back is just not worth it for $!00. Shame on us Mass tax payers for allowing this law to get passed. It's our own fault. I don't think we have to pay MA state sales tax on items we purchased from another state. I don't think there is a risk to get double hit. I also got a 1099k for just over $3000. Spent the morning finding my old purchase price "receipts", ebay fees, paypal fees, and shipping fees. Turns out I took a loss of $650, and maybe will pay less taxes?
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