Just an FYI,
This "change" was put in the stimulus that was passed during the last administration, not the current one.
For what that is worth.
@maryrn59 You are very confused and stating many inaccuracies about taxes and reporting your income and 1099-K,
This applies to all resellers, big or small.
It would be best if you were contacting an accountant or Tax Specialist to get educated about how online sales income works. The IRS has publications if you do not want to pay someone to educate you on this.
Even if a seller has not reached 20K a year, sales of 10K or 12K is substantial and no longer a "hobby" or for fun.
Once you cross the line of purchasing things with the intent to sell, you are a reseller and a business whether you are making big bucks or not.
As some have already stated, there are benefits of claiming your sales and expenses.
There have been many sellers that report to this chat and others that the IRS does not mess around. The seller just receives a bill for thousands of dollars and a due date. Recovering all the lost data, sales, expenses etc, is a huge job and the IRS just wants their money.
