1099 for 2023

[leonardsgreatstuff]

hi does anyone know if 1099's are going out? and if so does the old rule apply "no 1099 if you sell under 200 items and make under 20,000.00.

appreciate any input

[nobody*s_perfect]

eBay issued the 1099-K's for 2023 in late January, as the law requires.  The federal threshold is still $20K/200 transactions.

[monroe67]

"does the old rule apply "no 1099 if you sell under 200 items and make under 20,000.00."

Yes.  For the 2023 tax year, eBay was not required to send 1099K forms to sellers whose sales totaled under $20,000.00 and fewer than 200 items.  

Read that again:  eBay was not required to send 1099Ks to people who did not meet those 1099K thresholds.

You, and all eBay sellers, are expected (by the IRS) to be honest and report all your earnings on your 1040 tax return form, including your eBay sales earnings -- whether you receive a 1099K from eBay or not.  Oh, and your state tax return form also, if your state requires it.

[mam98031]

@leonardsgreatstuff 

If you didn't get one mailed to you, if Ebay issued one to you, you will find it in this link below.

https://www.ebay.com/sh/fin/reportslanding

In the left rail, you will see the word Taxes.  Click on that and it will take you to your tax forms.

https://community.ebay.com/t5/Announcements/eBay-and-TaxAct-partner-to-help-you-navigate-new-Form-10...

https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses/income-expenses

https://www.irs.gov/businesses/gig-economy-tax-center

https://pages.ebay.com/seller-center/service-and-payments/2022-changes-to-ebay-and-your-1099-k.html

https://www.irs.gov/pub/taxpros/fs-2022-41.pdf