01-28-2023 07:45 PM - edited 01-28-2023 07:47 PM
If I did not make $20,000 this year on ebay why did I receive a 1099-K. This is not supposed to begin until 2023.
01-28-2023 11:44 PM
Yes, IRS changed the minimum threshold on this form to be deferred until year 2023. But for 2022 the minimum threshold for the form is $20,000.
Don't make the same mistake as some sellers. This does NOT mean you don't have to report your income if it falls under the 20k threshold for the 1099K. The 1099K is merely a form and does not set the minimum requirements for reporting income to the IRS and it never has. The IRS doesn't have a minimum requirement for reporting income.
01-29-2023 02:27 AM
Some states have lower thresholds, so that could be the reason. It really doesn't matter why...income must be reported no matter the amount. Schedule C is not a hard form to fill out and you will find out there are plenty of deductions.
01-29-2023 10:25 AM
Good Point @evry1nositswindy . Here is the list.
01-29-2023 01:17 PM
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