Casual poolplayer

[chuckpilegis]

I have a few cues left. I see the IRS caps at 600.00 fora 1099r from paypal or whatever cash app you have. If I want to sell what I have left since I am getting old what should I do. 5 cues left at 1 thousand and up

 

[slide13]

You can try to sell locally or online using Venmo or Friends/Family type payments, those don't get recorded as income on a 1099 like a good/services payment does.

Or you can sell like normal and then you only need to pay tax on the profits, but that means being able to document the original cost which may or may not be possible. Then again...my understanding is that documentation would only be needed in an audit situation, I don't think you need to provide it when submitting your taxes. I have not done this yet but will have to next year for various sales, I'm not sure how tricky that process is going to be yet.

 

[The Old Jaybird]

I may be wrong, but I don't think this law is in effect currently. On a gun forum I am on, this was discussed at length, but ended up being much ado about nothing, as enactment was postponed.

 

[chuckpilegis]

I think it was 20000 before and was supposed to go in effect as 600 the past few years. I think they finally dropped it to 600 for next year

 

[JasonATX]

Assuming custom cues, you could go with a company like Crossroad Cues and either have them buy them outright or put them up for consignment. For Crossroads, details can be found about halfway down here.