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This would be entered as an investment sale of you are not in the business of buying and selling.
- Search (upper right) > type schedule d > use the Jump to... link select 'Review' or Add Investment sale > Select Other follow the prompts to complete the entry (cost, sales price, date of purchase and sale).
The law is not intended to track personal transactions such as sharing the cost of a car ride or meal, birthday or holiday gifts, or paying a family member or another for a household bill.
- Understanding third party payments from cash platforms (click the link and other links on the page for the most up to date information)
It will be very important to keep a list of payments received to document proof of non-income payments. The IRS requires reporting for anyone who receives payments that exceed $600 for 2023.
