Transaction Limit 2024

[warriors906]

Is there a transaction limit for 2024 in regards to receiving a 1099. In know the sales limit is $5000. Thanks

[wooden_flower]

@warriors906 

There is no transaction limit or selling limit other than the $600 threshold for the 1099k.

The IRS may raise the 1099k threshold to $5,000 for 2024, but right now it stands at $600.

Receiving or not receiving 1099k does not change your tax reporting responsibility. Ant profit you make is taxable and subject to self-reporting.