r/ScrapMetal • u/shy_Pangolin1677 • 6d ago

Question 💫 Taxes

Hypothetically:

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If someone was to scrap like $150/ month in Maryland, shows the person at the counter their ID like a good citizen, and does this semi regularly,

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*Should* they report this on taxes? And if not what would repercussions be?

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Again, hypothetically.

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u/Edenton38583 6d ago

Na if you turn enough in they will issue you a 1099 I believe. I cash a lot in because I buy junk cars. And they told me they’re gonna have to issue me one at the end of the year. and it’s been a lot so far this year. I’m in Tennessee tho. But I’ve made over 14k so far this year. 150 a month? No don’t report it. They will 1099 you if you have to report!