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1099-K
I sold $1,374 worth of my personal model cars this year. I got a 1099-K. eBay states that you only get that if you exceed $20,000 in sales. So, why did I get one and WHY does eBay have NO WAY to contact a live person about this?? Been a member since 1999....but I am probably going to close my account. The new eBay is awful.
4 comments
inceptions
Mentor8 months agoHi @kautter
eBay is complying with federal law. They are required to send a 1099-K if you sell more than $20,000 and more than 200 transactions OR if your state requires one to be sent based on their threshold which can be much lower. There are several states that have a very low minimum beginning at $600 - $1,000.
You're required to declare your eBay sales on your tax return whether or not you receive a 1099-K, so it doesn't really change anything other than you attach an additional form to your return.
kautter
OP8 months agoI did find that my state has a $600 threshold. My bad. Thanks
inceptions
Mentor8 months ago@kautter
No problem. There is always fine print... 😊
wooden_flower
Mentor8 months ago@kautter
It wasn’t eBay’s choice - some states have lower thresholds. Some have a $600 requirement. My state - IL - requires a 1099k at $1,000.
You will get a 1099k when you exceed your state’s threshold no mater where you sell.