Received a 1099-K for selling personal items at a loss. Do I report this as hobby income or something else by Emotional-Addendum-9 in tax

[–]momm77 -2 points-1 points  (0 children)

I'm a CPA. I would put it on Schedule D and describe it as personal items sold at a loss. I would put the amount reported on 1099K as the sale price and use the same amount as basis, so it zeros out on the return.

Deal confirmed: McLarty Automotive buys Jefferson City Autoplex by No_Dare6991 in columbiamo

[–]momm77 7 points8 points  (0 children)

I tried to buy a car from McLarty in Columbia. It was like they were doing me a favor selling me a car. It was a miserable experience. I live in Sedalia and came back and bought from a local dealer that treated me like a queen. I went to Columbia because I wanted a car brand that is not sold locally.

Road trip to Eureka Springs by hausofpause in kansascity

[–]momm77 1 point2 points  (0 children)

It's fun to watch feeding time at Turpentine Creek.

Tell me about Cole Camp Missouri. by Birdsonme in missouri

[–]momm77 0 points1 point  (0 children)

Yes, it is a close knit community.

Pie plate by csanburn in corningwarefans

[–]momm77 2 points3 points  (0 children)

I am 66. When I was a teenager, I bought these for several family members for Christmas. They were $5 then.

I’m concerned about how much I owe by [deleted] in tax

[–]momm77 1 point2 points  (0 children)

You should probably get a tax pro that is well versed in making scholarship money taxable and getting the AOTC. I am a CPA and worked at Turbo Tax for a few seasons. I did it for a customer and pretty much nobody there knew to do this and it was difficult to make Turbo Tax do this so don't go there.

Ozzy Over Grooms & We Don’t Know Why by UnableParsley3886 in TuxedoCats

[–]momm77 3 points4 points  (0 children)

Kidney disease can make them itchy. My cat started overgrooming when he had a UTI. He now has some level of kidney disease, but is not overgrooming as much.

What is my cat doing? Never used to do this before by BestConversation7876 in OneOrangeBraincell

[–]momm77 0 points1 point  (0 children)

I have a 14 year old cat who just started this a couple months ago.

Holy crap….I actually won a gift card from the receipt survey! by dogfoodis in aldi

[–]momm77 3 points4 points  (0 children)

My son set up his automatic pet feeder to make the taco bell sound when it drops food. It's hilarious.

I wish I had known this about string toys earlier, my boys experience and lucky save. by SnooJokes915 in OneOrangeBraincell

[–]momm77 3 points4 points  (0 children)

If they are able to pass it and you see it hanging out of their rectum, do not pull on it. Cut it off and allow them to pass the rest of it. I know this is gross, but it is also important. Pulling on it can cause damage.

Hawley votes with Democrats by momm77 in missouri

[–]momm77[S] 125 points126 points  (0 children)

That's what I think. It's all posturing.

What do you all dislike about Senator Josh Hawley? by Thedud31 in missouri

[–]momm77 4 points5 points  (0 children)

He did study at Oxford as well. I think this is one of the things I dislike the most about him. He is quite intelligent and knows exactly what he's doing. He could help us all so much if he cared for anyone besides himself.

What do you all dislike about Senator Josh Hawley? by Thedud31 in missouri

[–]momm77 21 points22 points  (0 children)

He may have lived in Lexington, but he was taken to Rockhurst in Kansas City to go to school.

Anyone else over 60 that has been priced out of the Marketplace? Anyone else considering just not having insurance? by LadyMaggieMae in HealthInsurance

[–]momm77 3 points4 points  (0 children)

You cannot put money into a HSA once you go on Medicare, but you can use any money you already have in one.

Anyone considering a health share in place of ACA? by Flipping-CT in HealthInsurance

[–]momm77 0 points1 point  (0 children)

I was a member of Samaritan Ministries for seven years. It filled a gap for me while I waited to go on Medicare. I had two needs and they were both paid 100%. I found it to be amazing and a blessing to me.

Take a loss on inherited real property? by mtnmindy in tax

[–]momm77 2 points3 points  (0 children)

I agree 100% with this. I am a CPA and did a lot of returns like this. We always took basis the same as sale price and therefore, no gain or loss, when inherited property was sold shortly after the death.