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1099k for selling 2 of my cars on eBay???
Sold 1 car in April and 1 in June both signifcantly less than I paid. The deposit of $500 for each car I was paid a deposit on eBay sent a 1099K for $1,000. I know I should not get this for a car. How can I correct this so I don't have to file with my return?
1 comment
jacbarcollectibles
Mentor8 months agoThe problem is that since you had the buyers pay a deposit through eBay they are the payment processor for the sale. You must be in a State that has a lower limit for issuing a 1099-K that the regular Federal limits. eBay cannot remove the 1099-K.