Account ClosedYou should be given a receipt.You may be required to issue a 1099 to him.A receipt will provide support to you in the event your return gets audited and they question your deductions.A 1099 is required to be given to contractors depending on if you are in a trade or business and the amount.Failure to do so can result in penalties.

If you didn't want to give trade secrets, you could have just said no, I don't want to divulge that information.   

If you can't use your current vehicle to Uber, I'd trade it in for one that you can.

In California, all trades are required to be licensed for any work greater than $500.Imagine hiring an unlicensed roofing contractor?

It's literally moving money around, trading up, moving more, trading up, etc etc.Best of luckJunior

This is not for an online post, this takes a consultation with a tax pro.And, like @Steve Vaughan mentioned, the amount of gain subject to tax could be smaller than you expect, and consequently the tax you are facing could be smaller or even zero.Once again: your plan is more important than your taxes.

Our platform has spent over 2 years dealing with compliance and the laws and rules are very murky.There is a lot of misinformation in the industry and several of the BDs that service business and clear trades for those in the industry are doing their best to convince platform operators they need to be subject to FINRA oversight.  

For purposes of this section, the term “section 179 property” means property—(A) which is—(i) tangible property (to which section 168 applies), or(ii) computer software (as defined in section 197(e)(3)(B)) which is described in section 197(e)(3)(A)(i) and to which section 167 applies,(B) which is section 1245 property (as defined in section 1245(a)(3)), and(C) which is acquired by purchase for use in the active conduct of a trade or business.Such term shall not include any property described in section 50(b).Let's take a look at IRC Section 50(b):(b) Certain property not eligible.

We are more apt to accept a borderline applicant than keep the unit empty for longer than a week, and we pay the consequences of that.  

@Colleen - Reason why I don't like the phone is because people feel they can say anything they want without consequence.