Sales Reported to IRS

[mysterytree]

Is Ebay going to report  sales income to the IRS? I have heard that anything over $600.00 would be reported and the sellers will get a income form to add to their yearly income taxes. Does anyone know about this or is it just hear say?

[wildpitchsports]

Let's have a Tea Party! Not -that- tea party, a real one! I'm down.

[wizzardblizzard]

No taxation without representation, dammit!

[wizzardblizzard]

😎DUDE LOOK AT MY NEXT COMMENT!!! 

I didn't see your tea party comment before i said that!!!  #likeminded

[dillsdprib]

😆🤣😂

Audited??!!

Ok, whatever you say! 
EBay, IMHO, never conveyed my supposed responsibility to report my earnings to the greedy IRS. 
Even IF I was still selling, I’m not stretching my neck out! I’m sure you care about what I do ‘or else’, but thanks anyway and I firmly believe that sellers who do not commission an eBay store should be OK!

Besides, you better alert those ppl who made money on the side selling items through FB Marketplace or Craigslist… I suppose they’ll get audited too, right??!!

The gov’t gets theirs so don’t worry about that. The nerve of some ppl to think I have to hand over everything to them!! 😂😆🤣

[dillsdprib]

Right on!! 😆👍✊🐟🐟🐟💦💦💦

[dillsdprib]

You’re 💯% right my friend!

Don’t upset the hypocrisy!

After all.. it’s the working taxpayer who hasn’t given ENOUGH already and has an obligation to pick the lint out of their pockets, just to satisfy an entity who believes you should be working to help facilitate those who desire what they do not work for!!

A frivolous spending machine we all keep feeding into. Again, for those who pay their fair share ( and I mean FAIR) of income taxes every April, I believe we paid enough!!

But I love that analogy.. keep on trucking!! 👍

[dillsdprib]

Let the fear mongering commence folks!!

😂😆🤣

[mg3483]

The new limit does NOT apply to sales ending 2021.  It begins in 2022.

AND the last I heard, a couple months ago, the limit has been changed… raised to $10,000.  But it’s still not approved because it’s wrapped up in another bill in Washington.

[mg3483]

https://abcnews.go.com/Politics/biden-admin-backs-tracking-bank-accounts-600-annual/story?id=8066550... 

[skydragonslair]

I am so sick and tired of this kind of behavior. Let the rich evade most is not all taxes while sucking every last thing out of us. Did you notice it said Republicans cast no votes which means they allowed it to happen without even raising an objection? But we know (or should by now) there isn't a single politician no matter the party that gives one rats ... about us.

For me, I have always paid my fair share of taxes but if this goes through, the measly amount I make (which I definitely need) could very well put me over for the rate I pay in insurance. Literally held hostage, never allowed to prosper because if I even attempt it, what I make and much more will ALL go to the insurance companies. FED UP

[dq3141]

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@mg3483 wrote:

https://abcnews.go.com/Politics/biden-admin-backs-tracking-bank-accounts-600-annual/story?id=8066550... 

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That has absolutely nothing to do with what's being discussed here.

[dq3141]

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@skydragonslair wrote:

For me, I have always paid my fair share of taxes

but if this goes through, the measly amount I make (which I definitely need) could very well put me over for the rate I pay in insurance

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I've tried to figure out how both of those statements can be true, and I've come up empty. Please explain.

BTW, it's already the law, so I also don't know what you mean by "if this goes through".

[velvet@ebay]

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@readabouthorses wrote:

velvet@ebay 

If a seller opts for the online and mail choice do you know what mailing address they would be using? My mailing address is a PO Box but Managed Payments forced me to change my registration address from PO Box to my physical address which does not receive any mail.

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Hi @readabouthorses and @pburn! I apologize for the delay but was finally able to get clarification. They will be shipped to the registered address on file. If you don't get mail at the registered address then you'll want to be sure you sign up to receive it online. From there, if you don't have a printer, then you could have it printed out somewhere like FedEx, UPS, etc. if you want that paper copy. 

I also wanted to follow-up on the discrepancy between the FAQ's in the Seller Center and our Help Page, with the wording between total sales and gross payment amount received. I know they're looking to better align the two and I believe an update to the Seller Center will be pushed through. 

[pburn]

Thanks for the tag and the update, velvet@ebay. 

Just to reiterate:

• Form 1099-Ks are actually mailed to the registered address of each seller who qualifies to receive them.
• The eBay help page provides the correct information, and the Seller Hub is incorrect but is in the process of being updated.

Are those accurate statements?

Additionally, you make reference to " . . . you'll want to be sure you sign up to receive it online." Does a seller have to "sign up" to receive the standard Form 1099-K online, or is that a reference to requesting the Form 1099-K "detailed report" available from eBay?

Thanks again!

I believe @dq3141 may want to follow this thread . . .

[dq3141]

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@pburn wrote:

Thanks for the tag and the update, velvet@ebay. 

Just to reiterate:

• Form 1099-Ks are actually mailed to the registered address of each seller who qualifies to receive them.
• The eBay help page provides the correct information, and the Seller Hub is incorrect but is in the process of being updated.

Are those accurate statements?

Additionally, you make reference to " . . . you'll want to be sure you sign up to receive it online." Does a seller have to "sign up" to receive the standard Form 1099-K online, or is that a reference to requesting the Form 1099-K "detailed report" available from eBay?

Thanks again!

I believe @dq3141 may want to follow this thread . . .

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Thanks for the tag.