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Unable to upgrade Mac Pro to Mac Studio, configuration advice required

This will be my first non-tower Mac I have ever purchased. I am opting for the M2 Ultra with 24-Core CPU, 60-Core GPU. ($4,000) I'm thinking of not spending the extra $1,000 for the 72 core GPU. Configuring it for 128GB unified memory (This is the mid-level choice), and 4TB Storage.


Does this seem reasonable? Any suggestions for someone coming from a Mac Pro?



[Re-Titled by Moderator]


Posted on Mar 4, 2024 3:55 PM

Reply
7 replies

Mar 5, 2024 9:17 AM in response to Ziatron

Getting a 1099 form at the end of the tax year does not complicate your tax situation is any way. If your tax situation is otherwise pretty simple, just ignore that 1099, it's NOT income.


If you sold your Mac for less than you paid, that is a capital LOSS, and NOT reportable, except in the case where you want to claim it against massive capital GAINS.


the 1099 reporting in general is intended to flag people with tens to hundreds of thousands of dollars of otherwise unreported income, and get some of that "under-the-table" income made taxable.

Mar 4, 2024 6:13 PM in response to samuellnavarrete

Unfortunately, yes. A new law went into effect (in 2022 I think); Annual sales over $600 on eBay will generate a 1099 form, and I would rather not bother with the associated paperwork. The "1099-K Fairness Coalition" says that 70% of respondents said they would be deterred from selling online because of the $600 IRS 1099-K reporting requirement.  That's me. Obviously, if I sold my Mac Pro, it would be for significantly LESS than what I paid for it 4 years ago. So there are no tax consequences. But all that requires paperwork, documentation, and form filling out. It's just not worth it.




Mar 6, 2024 12:28 PM in response to Grant Bennet-Alder

>> Getting a 1099 form at the end of the tax year does not complicate your tax situation is any way. If your tax situation is otherwise pretty simple, just ignore that 1099, it's NOT income. <<


Over many years, I've always had the very highest regard for your advice regarding Apple products.


From my understanding, eBay will send a 1099 to me as well as the IRS if I sell more than $600. I agree with you COMPLETELY that this is NOT a taxable event. (On a couple of occasions, in years past, I sold something at a small profit on eBay. I accurately reported that as miscellaneous income on my tax return.)


From my reading, along with my tax return (that is done by a CPA firm) I would need to attach any 1099s I receive along with documentation on what I originally paid for the item in order to PROVE that I sold it at a loss. I have further read if you cannot produce documentation of your original cost (let's say you're cleaning out your attic or your garage) then you must pay income tax on the full sales amount.


An Internet search, or reading comments from other eBay sellers you will see MANY casual sellers (that was me) that have simply stopped selling on eBay because they don't want to get a 1099.


It's not just the money, but people are throwing perfectly good items in a landfill because they're afraid of the IRS. This is new, so there is confusion. Also, if there's a change in Washington, it is likely these rules will go back to the old $20,000 threshold.



Mar 6, 2024 12:57 PM in response to Ziatron

<<. my tax return (that is done by a CPA firm) I would need to attach any 1099s. >>


ask your CPA if you literally need to report this.


My prediction (but I am NOT a CPA) is that as long as you don't have twenty of them, you can safely ignore them.


If you have 20, and report none, your return might cause some questions, depending on the Relative size of the 1099's total value versus how much income you typically report.

Unable to upgrade Mac Pro to Mac Studio, configuration advice required

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