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SELLING COINS
HI I HAVE A QUESTION I SELL COINS LIKE PENNIES THIS YEAR I SOLD LIKE 150 DOLLARS DO I HAVE TO REPOR TO IRS PLEASE LET ME KNOW IF SOME ONE KNOW
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monroe67
Mentor7 months agoIn general --
the Internal Revenue Service (IRS) expects taxpayers to list all of their income on their income tax returns.
That's every little bit of income.
I've even heard that, if you might happen to find a folded up $20.00 bill in a parking lot, a strict reading of the appropriate regulation(s) means you are supposed to list those $20.00 as income.
Everybody's financial and income tax situation is a little different from everybody else's. You may benefit from working with a tax preparation professional. H&R Block has always given me good advice. (No, they don't pay me to recommend them!)