Sales tax on Ebay sales
MCMLVTopps
Posts: 4,860 ✭✭✭✭✭
Anyone know what the deal is with eBay sales and the IRS? I've not been a seller for some time, but thinking it might be time to become one again.
I think there is a distinction between a "hobbyist" and a "business". Does eBay send a 1099 to the IRS for all sales? And, if you live in a non-sales tax state, like New Hampshire, does this impact the 1099 issue?
Input appreciated.
Tks,
Al
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Comments
think you gotta meet a certain sales level before its reported, like $20k a year.
https://www.paypal.com/us/smarthelp/article/how-does-paypal-report-my-sales-to-the-irs-will-i-receive-a-1099-tax-statement-faq729
myslabs.to/smzcards
After attempting to find some viable info from the Infernal Revenue Service website, I came up with very little definitive info.
While there are several websites that tell you this and that, I prefer to get it from the dragon's mouth, so as to not create a stampede of badges at my front door. I doubt I will ever top what appears to be the $20k limit, but one never knows unless clear definition is available.
I did however search around (for grins), to see what our well place Federal administrator's feel are worthy causes to plow our tax monies into...pls, no barfing, screaming is permissble. I suspect this list is way short of what they really pi$$ away.
http://endoftheamericandream.com/archives/30-stupid-things-the-governemnt-is-spending-money-on