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Form 1099 k for 2025
Received the 1099K.......I had $ 10,300 in sales and 324 transactions. With the new 20,000 limit,,, not sure why I Ebay sent me the 1099. Confused, my sales total at $ 10,300....do I still have to claim on FEDERAL IRS?
4 comments
jacbarcollectibles
Mentor8 months agoYou are required to claim all eBay income no matter if you receive a 1099 or not. Although the Federal limit for a 1099 is $20,000 there are some States that have a much lower limit for receiving a 1099. The limit for your State is $5,000 so eBay had to send you the form.
romulus123
OP8 months agoThanks kinda confusing, need more clarity.....seems everyone has the same problem, here......Either Ebay of IRS, has the " maybe, maybe not" answers.......not much help....thanks for the help
monroe67
Mentor8 months agoeBay has to follow federal income tax laws, as stated in the Internal Revenue Code,
and the income tax laws of the 50 United States,
some of which have lower 1099-K reporting requirements than the IRS does.
Two other threads here in the Ask A Mentor forum, started today (Jan. 31) have comments stating
that Illinois has a $1,000 minimum gross earnings requirement for issuance of Form 1099-K.
I think a quick Google search might help you find the truth of what Illinois law says.
I'd use " Illinois 1099 K requirement " as my search criteria.
romulus123
OP8 months agoThanks......must be the culprit....State Tax