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Do scrap yards report transactions to the IRS?

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  1. #1
    KzScrapper's Avatar
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    Person or company that paid you would file the 1099 not you...up to you to claim it as income I would recommend it if you get a 1099 but if you don't it's your call. If you get popped by IRS it could be a costly lesson.

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    Quote Originally Posted by KZBell View Post
    Person or company that paid you would file the 1099 not you...up to you to claim it as income I would recommend it if you get a 1099 but if you don't it's your call. If you get popped by IRS it could be a costly lesson.
    They won't send me a 1099, I doubt it. The amount is probably somewhere between $500 and 1k, not alot. I had no idea or ever thought to file it on my income. Wish I never saw this post, never would of crossed my mind for something so little. You really think somehow the IRS is going to be able to track down a couple hundred dollars worth of scrap?

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