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01 FFL fed tax info needed pls


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Would anyone like to share what tax forms need to be submitted to the fed.gov ?

I have searched the interwebs to no avail.

I have an EIN and have bought a few guns over the net and sold a few FTF as well.

Done about 100 transfers to about 40 individuals. Form numbers would be greatly appreciated.

Websites .... I think I have seen all of them over the past 2 weeks.

If I cannot figure this out, I am going to forfeit my license and turn in all records A&D, 4473, etc. and let the feds figure this out for themselves.

I will begin denying xfers by weeks end, tired of the headaches from searching.

The TTB website is a freaking nightmare.

A lawyer/CPA referral in Desoto County would be just as helpful. PM if you feel the need for anonymity.
 

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Guest 6.8 AR

Do a long form and spell it out. Turbotax can get you through that. Be kinda dumb to throw an FFL away

because of this. You can report a business income/loss on there. I don't see what you mean by headache.

 

Go to Walmart, pick up Turbotax disc, do taxes. No big deal.

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Guest 6.8 AR

Another thing. If you just forfeit your license and don't report it if it is over a certain threshold, you may

be asking for more problems. You do have a job, elsewhere, don't you? If that's your sole income, go

to H&R Block or Turbotax.

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Far as IRS, your FFL biz is just another biz.

 

Quite simple assuming you are sole proprietorship and have no business equipment to depreciate and what not. The buying and selling part and transfer biz is all quite simple. Oughtta be able to handle it fine with TaxAct or any other freebie that allows Schedule C. TaxAct will walk you through every step with simple question after question.

 

As far as any additional accounting that BATF requires, wouldn't know, but surely that info would be in whatever they gave you with initial license? But income taxes are all purely handled on your 1040 or 1040a between you and IRS.

 

- OS

Edited by Oh Shoot
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