Will this year (2025) see 1099's for all sellers at $2500?

Having a lower (not low enough in my estimation) sales requirement for getting a 1099 should help getting the garage sale left over sellers off the site once they realize their gross sales totals will be sent to the IRS.

Also having to give eBay a lot of personal information and banking numbers will also help weed out low ball sellers. Just musing a bit, as I do not need anything derived from selling on eBay. The old adage: It keeps me off the streets is applicable here.

from_me_2_you

5290 View listings

Posted 1 year ago·Last reply 1 year ago

11 comments

johnrj1226

·1 year ago

1193 View listings

Here is what a google search produced for the state of Oregon

Notice 2024-85 PDF issued 11/26/2024, provides guidance and clarifies that third party settlement organizations are required to report transactions for goods or services where the total payments received were more than $5,000 in 2024; more than $2,500 in 2025; and more than $600 in calendar year 2026 and thereafter. Current as of: Dec 11, 2024

But time can change most anything

A number of states have been at $600 for a few years

tsme35

·1 year ago

23350 View listings

Here in Missouri, its been $1200 in sales for years now.

johnrj1226

·1 year ago

1193 View listings

OK..................

fern*wood

·1 year ago

10492 View listings

They might leave, but you can be sure they will all be here complaining first. It might be a good time to take a 6 month break from the board as dbfolks decided to do.

tools*

·1 year ago

474 View listings

@from_me_2_you wrote:
Having a lower (not low enough in my estimation) sales requirement for getting a 1099 should help getting the garage sale left over sellers off the site once they realize their gross sales totals will be sent to the IRS.
Also having to give eBay a lot of personal information and banking numbers will also help weed out low ball sellers. Just musing a bit, as I do not need anything derived from selling on eBay. The old adage: It keeps me off the streets is applicable here.

None of the people you mention, who are losing money on every sale, will owe any money to the IRS.

redlinear

·1 year ago

42273 View listings

@tools* wrote:
@from_me_2_you wrote:
Having a lower (not low enough in my estimation) sales requirement for getting a 1099 should help getting the garage sale left over sellers off the site once they realize their gross sales totals will be sent to the IRS.
Also having to give eBay a lot of personal information and banking numbers will also help weed out low ball sellers. Just musing a bit, as I do not need anything derived from selling on eBay. The old adage: It keeps me off the streets is applicable here.

None of the people you mention, who are losing money on every sale, will owe any money to the IRS.

That could go either way.
You sell enough of your old household belongings to get a 1099, And no way to prove those were your old household belongings.

tools*

·1 year ago

474 View listings

@redlinear wrote:
@tools* wrote:
@from_me_2_you wrote:
Having a lower (not low enough in my estimation) sales requirement for getting a 1099 should help getting the garage sale left over sellers off the site once they realize their gross sales totals will be sent to the IRS.
Also having to give eBay a lot of personal information and banking numbers will also help weed out low ball sellers. Just musing a bit, as I do not need anything derived from selling on eBay. The old adage: It keeps me off the streets is applicable here.

None of the people you mention, who are losing money on every sale, will owe any money to the IRS.
That could go either way.
You sell enough of your old household belongings to get a 1099, And no way to prove those were your old household belongings.

It's unlikely that you'll be audited for selling household stuff, unless you live in an inherited mansion and that household stuff includes your ancestors' Tiffany lamps and Picassos.

johnrj1226

·1 year ago

1193 View listings

Not good advise - What if they got busted for some other reason and the IRS started digging around? Best to be safe rather than sorry.. After deducting allowable deductions beyond eBay and mailing cost the net taxable amount is minimal. The big time sellers have to do more homework.

heckofagame

·1 year ago

13311 View listings

All sellers that don't live in a state with a lower threshold.

simba6

·1 year ago

2306 View listings

Think of all the people in the UN that could not wine and dine without your tax dollars? It's what you can do for your country.

monroe67

·1 year ago

199 View listings

"Will this year (2025) see 1099's for all sellers at $2500?"

Yes, for Form 1099-K, that's what the laws/regulations currently state.
However, who can see or say what the future will hold?