1099: Multiple accounts

[ahsan_shah87]

Hi there,

Would we be receiving 1099 if our combined sales reached 20K or 200 transactions? We both have separate ebay accounts with separate paypal. Bank account she use however is the joint. I use my individual bank account. She made ebay sales when default form of receiving funds were through paypal. Our mailing address is common.

Me: Ebay account with SSN

Her: ebay account with ITIN - does not have SSN

[divwido]

No, one account is just that one account.  You will need bookkeeping for each account separately.

And on taxes, you will need to file multiple schedule C's with their individual 1099, if applicable.

[kare-bearb]

https://www.ebay.com/help/selling/fees-credits-invoices/ebay-form-1099k?id=4794&st=12&pos=1&query=eB...

Form 1099-K and multiple eBay accounts:

If you have multiple eBay accounts associated with the same Tax ID, your thresholds are calculated by combining all payment transactions. If your combined sales exceed the above thresholds, you’ll receive a Form 1099-K for each account, even if one or more of the individual accounts do not exceed the IRS reporting thresholds.

For example, you may be a managed payments seller with two accounts associated with the same Tax ID. If you have over 200 sales transactions combined between the two accounts, and received $19,999 in payments on one account and $5 on the other, you’ll receive a separate Form 1099-K for each account.

[eunster1313]

There are some changes coming that you might want to be aware of.

The last COVID relief bill the Democrats (passed) has this provision in it.

The new threshold is going to be anyone who exceeds $600.00

(Regardless of how many sales).

A provision in the American Rescue Plan Act of 2021 (aka the COVID relief bill)
New Bill Puts Micro Sellers in Crosshairs of the IRS

https://www.ecommercebytes.com/C/abblog/blog.pl?/pl/2021/3/1615153514.html 

Gig workers could end up losers in Covid relief bill

https://www.politico.com/news/2021/03/05/gig-workers-coronavirus-relief-bill-losers-473902 

[Anonymous]

sorry to ask but i am dealing with this problem right now, do i have to hand in both the 1099k forms separately? or i can just hand in one?

[kh-vince]

Hi everyone,

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

Thank you for understanding.