Hi everyone. I have a predicament. For reasons not needed to answer this question, my friend, who runs a business primarily on Ebay, asked that I sell some items for him. His business is well established and files his taxes accordingly. I would be selling the items and then paying him for what they sold for (minus Ebay fees). The value of the items could reach upwards of $30k, so Ebay will obviously be sending a a 1099. The issue is that I have student loan payments that are income based, so my income can't look like it increased by that much. I file married but separate (this is the best status to file with to keep student loan payments down) and I typically take the standard deduction.
I guess I'm hoping that something exists that I can "transfer" that income to him so that my gross income doesn't look like it's increased, because in reality, it wouldn't have, as I would pay him for everything that sold. He's ready to pay the tax bill for it if something like this is possible. If there is something, are there forms we'd both have to fill out? Would using the standard deduction change?
Thanks in advance for the help.
