IRS $600 minimum threshold for 2024 | Selling

midtownmafia · 2024-10-23T22:42:01.068000Z

As of right now, Ebay shows the minimum threshold for 2024 being only $600. I did see something from Ebay that came out in April 2024 saying the threshold would be $5000 for 2024 and 2025, then $600 after that. Does anyone know for sure what the thresholds are? This is still a ridiculous amount and will eventually force me to stop selling on Ebay, just so I won't have to mess with hiring a dang CPA to figure out how much I lost each year selling on Ebay ... after the monthly Ebay store fee, selling fees Ebay takes from the purchase price and shipping price. I'm also wondering if this "gross amount" that Ebay reports includes all the taxes that Ebay takes out automatically that our hands never touch? The taxes should not be in our "gross amount" but I bet it will be. I understand it's our job to make deductions for internet, storage unit fees, shipping, etc.. but I would think taxes charged the buyer should not be included in our "gross amount".

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IRS $600 minimum threshold for 2024 | Selling | eBay Community