Drcpwen Posted January 24, 2021 Share Posted January 24, 2021 I own rental properties and for the convenience of my tenants I installed four vending machines on the properties. I don't make much money with them but they keep my tenants happy. All four machines have credit card readers and I'm curios what (if anything) USA Live will report to the IRS. I use Quicken to do my books and I'm not sure the best way to enter the records. Any advise would be helpful. Thanks, Dan Link to comment Share on other sites More sharing options...
AngryChris Posted January 24, 2021 Share Posted January 24, 2021 26 minutes ago, Drcpwen said: I own rental properties and for the convenience of my tenants I installed four vending machines on the properties. I don't make much money with them but they keep my tenants happy. All four machines have credit card readers and I'm curios what (if anything) USA Live will report to the IRS. I use Quicken to do my books and I'm not sure the best way to enter the records. Any advise would be helpful. Thanks, Dan I don't know if usa reports anything but your bank probably does Link to comment Share on other sites More sharing options...
AZVendor Posted January 24, 2021 Share Posted January 24, 2021 Banks don't report unless your cash deposit is over 10K unless there is something I don't know. I never got a 1099 from a bank when I had credit card receipts. Link to comment Share on other sites More sharing options...
Southeast Treats Posted January 25, 2021 Share Posted January 25, 2021 Third party payers use IRS Form 1099 to report gross sales, if it is required depends on the amount of sales; if they file one you will receive a copy. Link to comment Share on other sites More sharing options...
Drcpwen Posted January 30, 2021 Author Share Posted January 30, 2021 Thanks for the feedback. Link to comment Share on other sites More sharing options...
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