E-2 Visa Holder

E-2 Visa Holder

Taxpayer – A resident Alien on E-2 Visa sold Collectibles and received a 1099-K from PayPal, IRS issues a Notice of Deficiency assessing additional taxes, penalties and interest of $11,833, and further indicating that the sales should have been reported on schedule C, and not schedule D.

***Disclaimer: I am a tax accountant and a CPA licensed in Massachusetts , but I am not your accountant or advocate (Unless you have signed up to my services). This communication is not intended as tax advice, and no tax accountant -client relationship results**