ok so last year in a month and half I netted almost 20k before being banned. I didn't have an LLC or anything just my regular account. Do I have to do taxes on this amount? Would it be a terrible idea to not claim this?
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Federal Law states that you are suppose to report all earned income. They don't care if it is selling drugs on the street corner. If you went over 20k/200 Transactions a 1099k will be filed with the IRS.