according to the IRS. If you made a profit selling an item — meaning the sales price is more than what you originally paid — you need to report that gain on Form 8949 and Schedule D.

Learn which payment apps report transactions to the IRS, including Zelle, Venmo, and CashApp. Understand how reporting ...

you must report it as a capital gain on Form 8949 and Schedule D. Meanwhile, President Donald Trump issued an indefinite hiring freeze for the IRS Monday, which will remain in place until his ...

If you sell personal items at a gain, you report that as capital gain on Form 8949 and Schedule D. If you get a 1099-K and don’t report it, it could generate an IRS notice within a year or two ...

If this information is left out of your taxes, you could receive a CP2000, Unreported Income notice from the IRS. So it’s important to report on Schedule D and Form 8949 if applicable.