1099k

[moneymaker3919]

I received notice today due selling 600.00 worth of goods, I would need to provide a full SS number. The federal government said they would not attack low income earnings for taxes. Paying taxes for sales over 600.00 doesn’t seem worth all the responsibilities that go along with selling my items. Besides, their idea and my idea of low earnings are way apart. What does everyone think about this. Keeping records of all my cost is not worth selling as a hobby on eBay.  We should have never taken those small stimulus checks… now it’s thier turn to get it back.

[buyologist-3]

"And this has nothing to do with the stimulus checks."

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Oooo~ This got past you: It most certainly does.  This is paying for the Stimulus checks and more.

Good post, though.  Many have posted about it and more will.  That's what these Boards are for and we're ok with that.  Otherwise, we read the title and move on, right guys?  

[buyologist-3]

Yes, you are right!  

[buyologist-3]

It's so easy to do yourself.  Do a search and there it is!  It was bound to happen sooner or later, so here we are.  

[714ricki]

Don't be scared in reporting your sales. Just take the 1099 to your tax professional & have them do the paperwork for you. Report those sales to Uncle Sam, file the paperwork, pay anything that you owe Uncle Sam, & then sleep in peace! In the end, the remaining profit will be worth it. 

[downunder-61]

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@moneymaker3919 wrote:

I received notice today due selling 600.00 worth of goods, I would need to provide a full SS number. The federal government said they would not attack low income earnings for taxes. Paying taxes for sales over 600.00 doesn’t seem worth all the responsibilities that go along with selling my items. Besides, their idea and my idea of low earnings are way apart. What does everyone think about this. Keeping records of all my cost is not worth selling as a hobby on eBay.  We should have never taken those small stimulus checks… now it’s thier turn to get it back.

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Provide that full SSN to eBay as soon as possible, until you do, you will not be getting paid for anything until this has been provided as requested. 

[myantiquestore]

Businesses have had to give 1099K to everyone over $600 for years - so do flea market sellers (although a lot don't) and individuals for their maids, lawn workers and anyone self employed but few do.  I think the IRS just found an easy way to catch up to a group of individuals that they missed before.  Also, for years there was a line on Illinois state income tax paperwork (were I am) for the amount I bought online so I could pay the sales tax on it as well....  don't think that got filled out much.  eBay has corralled millions of sellers who didn't pay taxes before - why wouldn't the government have them report it?  It isn't a new tax - it is just a new report to catch a bunch of people who didn't pay the tax.  Stinks,  too bad the IRS finally got a bit smarter.

[kh-gary]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread HERE if you wish to continue to discuss this topic.

Thank you for understanding.