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Ebay and 1099's
habaraca
Posts: 2,048 ✭✭✭✭✭
guess they want me to start selling........
received this morning.
1099-K Issue is Resolved!
Hi Phil,
We are happy to report that, thanks to your efforts, Congress has restored the original 1099-K reporting threshold of $20,000 and 200 transactions. This change will prevent millions of Americans who are selling used, personal items from receiving unnecessary and confusing tax forms.
This change wouldn’t have been possible without the voice of the eBay Main Street community. Thank you for speaking up and making your voice heard!
Sincerely,
The eBay Government Relations Team
8
Comments
Sweet!! I avoided selling on ebay with the low thresholds but this opens the door back up. Thanks Phil for letting us know.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/
This has already been discussed numerous times on this forum.
Link for your convenience:
https://forums.collectors.com/discussion/1115042/1099k-for-states-not-following-the-irs-reporting-threshold#latest
I see I owe you a thank you. Consider it said.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
@Aspie_Rocco
So are you saying that it's NOT $20,000?
Mike
My Indians
Dansco Set
Depends on the state you live in. Each state has their own rules.
Is there a list?
Mike
My Indians
Dansco Set
Google your state and 1099K threshold.
I posted pics of California information only. I imagine it varies from state to state.
https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/
It's posted above by Freddie