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Retirement tax questions
Ah. Thank you Carl. I really do appreciate the honest response.
I guess my main concern was that it would be reported as income without anyway to offset that which is resulting in me going from a $600 refund to a nearly an $11k tax bill. But from your response, it appears that even if it's initially reported as income there should be a way to offset it with expenses (mostly).
As a side note - Do you think I should contact the filer (Google Payment Corp) and provide my SSN? As it stands currently, the form does not contain my SSN (neither masked or un-masked). The last thing I would want to do is go through all of this trouble to expense everything for the IRS to turn around and say, "We don't have a 1099-K for you".
I guess my main concern was that it would be reported as income without anyway to offset that which is resulting in me going from a $600 refund to a nearly an $11k tax bill. But from your response, it appears that even if it's initially reported as income there should be a way to offset it with expenses (mostly).
As a side note - Do you think I should contact the filer (Google Payment Corp) and provide my SSN? As it stands currently, the form does not contain my SSN (neither masked or un-masked). The last thing I would want to do is go through all of this trouble to expense everything for the IRS to turn around and say, "We don't have a 1099-K for you".
‎June 4, 2019
7:29 PM