Re: [vpFREE] 1099's

><<I already have your book and recognize that IRS is very vague on what is
>acceptable. I do think that I am going to try to use the session method of
>reporting knowing that the IRS will probably challenge. I would feel a
>little better if someone has already tried and successful.>>
>
>We (and lots of others) HAVE used the session method successfully for many
>years, but we (and others) have been audited once in awhile and questioned
>about this. Usually the IRS has accepted explanations but sometimes it has
>taken a lot of time to go through the explaining process. So that is why
>many people just go with the W-2G figure and adjust the loss figure to get
>the same "real" figure.

Declaring less income than the total of W-2Gs is a major red flag.

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