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The Chip Board Archive 01

Re: Let's Clear up the Confusion

It's not as complicated as you'll think. This is going to be a somewhat textbook answer because of my background. It's a business for those selling
chips that have a profit motive and file a schedule C tax return. Those that
collect chips as a hobby usually will reinvest any monies that they make from
the sale on chips to improve their collections. Any profit from the sale is
incidental and usually all expenses are not a deduction on the collectors tax
return. Does that clear up this discussion and maybe end this thread. Yea,
fat chance.

Messages In This Thread

I am confused-Hobby-think not
Re: I am confused-Hobby-think not
Re: I am confused-Hobby-think not
Re: I am confused-Hobby-think not
Re: I am confused-Hobby-think not,????, II
Re: I am confused-Hobby-think not,????, II
Re: I am confused-Hobby-think not,????, II
Re: I am not confused. I think!!
Re: I am confused-Hobby-think not,????, II
Re: I am confused-Hobby-think not
Re: I am confused-Hobby-think not
Re: I am confused-Hobby-think not
Re: Let's Clear up the Confusion
Re: Let's Clear up the Confusion II
Re: I am confused-Hobby-think not
Re: I DO NOT UNDERSTAND WHY ANYONE IS CONFUSED!!!
Re: I DO NOT UNDERSTAND WHY ANYONE IS CONFUSED!!!

Copyright 2017 David Spragg