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1099 from Glock!!!!

Discussion in 'GSSF' started by mleeber, Feb 7, 2006.

  1. mleeber

    mleeber

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    I just got a 1099 in the mail from Glock...Ouch!!!!

    I never thought about the tax ramifications of a good year in GSSF.
     
  2. ede

    ede Bama's Friend

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    i talked to donna earlier this week and she said i didn't need one. not really sure why, the indoor gun doesn't count and one outdoor gun isn't enough, the other for using a 37 went on last years even if i got it this year. i was sort of wanting to claim it since i have more in expenses than i do in income.
     

  3. mleeber

    mleeber

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    Ah Ha! That is right, I get to deduct all the money spent shooting in the GSSF matches where I didn't win squat so I should finish well into the NEGATIVE;f
     
  4. Maxthemutt

    Maxthemutt

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    Have you talked to an accountant about this? I asked my CPA and another shooter and they both made it sound like it was too much trouble to deal with, different forums and such. I'm curious because I feel the same way.
     
  5. WIG19

    WIG19 Light left on

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    You're correct pardner; except for the little tax code math thing built into the form that says, in essence:
    "When you get to a figure that looks like it might work out for your benefit, enter 0."

    But if you've got a hobby you're going to declare, you can save receipts, track your expenses and balance that against all the MatchMeister guns you're going to win. ;f

    ;?
    CAVEAT IANA: L, CPA, MatchMeister
    ;e
     
  6. SocomCen

    SocomCen Millennium Member

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    I feel your pain! My 1099 from them was for $1250 for 3 Glocks and some cash I won last year.
     
  7. CCV

    CCV Millennium Member

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    What a good problem to have.
     
  8. Jakk

    Jakk Millennium Member

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    +1

    I had that problem a few years ago. Wish I still had that problem. ;f