1099k

[habitatvol]

Hi all- I got a 1099k from ebay even though I was under the $20,000 limit. I thought this was supposed to go into effect 2023. Was it a mistake? Do we have to report it??

[rock.star]

Your state is still using the $600.00 leavel. Sorry it seems it is a $1000.00. Some states it is $600 and some are $1000 and a couple are 1200. What a mess that is why the IRS delayed it for a year 

[disneyshopper]

You are suppose to report all income made by selling on ebay, using Schedule C on your 1040 income tax return.  You offset that by also claiming deductions for your expenses.

You are located in New Jersey, so  your state has a lower threshold for reporting and that is why you received a 1099-K.  Your threshold is $1000

https://stripe.com/docs/connect/1099-K

[habitatvol]

ugh..but thanks for the info!!

[habitatvol]

Thanks. So it has to be reported even though the IRS delayed it??

[kensgiftshop]

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@habitatvol wrote:

Thanks. So it has to be reported even though the IRS delayed it??

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Your income is supposed to be reported anyway.

Your state has a lower reporting level then federal, so yes, you have to report it.