- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
1099 Misc.
Hello, I sold my car in 1/2024. Received a bank check through a dealer (Carmax). I went to the bank it was drawn on (Bank of America). The amount was $14,952. At the time they told me I would receive a 1099 for taking out a large amount of cash. I used the cash $9000 (to avoid another 1099) to Mercedes dealer and put the rest on credit card and turned around and used the $5952 to pay off the credit card used. How do I offset this amount where I am not paying taxes on the money. I have looked everywhere for the 1099 paperwork. Since I moved I believe it is misplaced. I know the figures above are correct. Please advise. Thank you.
‎January 19, 2025
4:42 PM