eBay

vermontquilts · ‎02-02-2022

I was wondering why I wasn't getting any from EB or PP. Then I realized between two accounts on EB and the split mid-year on how we get payments, I didn't hit the threshold in any of those 3 categories. Anyone else running into this? Gonna make taxes interesting this year.

kds99 · ‎02-02-2022

You don't need a 1099-K to pay your taxes, it's always been that way. I think the IRS will welcome your payment just the same.

luckythewinner · ‎02-02-2022

@vermontquilts wrote:
I was wondering why I wasn't getting any from EB or PP. Then I realized between two accounts on EB and the split mid-year on how we get payments, I didn't hit the threshold in any of those 3 categories. Anyone else running into this? Gonna make taxes interesting this year.

If the two eBay accounts have the same taxpayer ID, they look at the total of the payments processed across both accounts when determining if you meet the threshold. If you do, they issue a 1099-K for each account separately.

That aside ...

I ran into the eBay/PayPal split last year. I simply did my numbers for PayPal as I always did; then did my numbers for eBay; then added the two together. It actually wasn't very interesting at all 🙂