Ebay - 1099 forms
PSUguy
Posts: 55 ✭✭
Has anyone received, or know when, ebay sends out their 1099 forms (either my mail or electronically)? I have sold over the 5K threshold, but it says in my ebay seller hub that I do not have a 1099 this year becasue I didn't meet the IRS limit. Maybe ebay just hasn't sent them out yet?
Collecting PSU and Joe Paterno items!
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https://www.ebay.com/sellercenter/resources/changes-to-ebay-and-your-1099-k
_On November 26, 2024, the IRS issued Notice 2024-85 providing another delay of the $600 reporting threshold to help ease the transition to the new reporting requirement.
As a result, for tax year 2024, only eBay sellers who meet the following criteria will receive a Form 1099-K.
-Exceed the current reporting threshold of $5,000
-Had backup withholding applied in 2024
-Are residents of states that have a lower reporting threshold_
Remember folks, the change is to make it easier on eBay and similar entities NOT for You or I !
You still must report the eBay income on your taxes. That has always been the case. If have not been doing so then you have committed Tax Fraud against the United States!
It's the singer not the song - Peter Townshend (1972)
So if I am reading this correctly, I should expect a 1099 form since my sales were 5k+. Correct?
Correct and they must provide (or have postmarked) by Jan 31
It's the singer not the song - Peter Townshend (1972)
According to the article, the threshold in 2025 will be $2500.
Terry Bradshaw was AMAZING!!
Ignore list -Basebal21
I just got a notification a couple days ago saying that they will be available by Jan 31st.
I saw the same notification under my ebay seller hub.
i just got a 1099 from paypal today