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Federal tax
Is there a threshold of sales for filing federal taxes?
Thank you and kind regards
JimP
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Locked
Discussions in this board are limited to the original poster and Community Mentors
Is there a threshold of sales for filing federal taxes?
Thank you and kind regards
JimP
comics-scifi-collectibles
Mentor1 year ago@jimbo.847 You need to ask an accountant.
I can tell you that eBay sends 1099ks as required by law. Some states do have a lower reporting threshold>
https://support.waveapps.com/hc/en-us/articles/12277365763220-Form-1099-K-Federal-state-thresholds
You only pay taxes on the Profits.