1099 Question yet again

[gooseislandcollectibles]

Before everyone's heads explodes on this topic with yet another question, I am registered as a business for many years  and file all my earning with my local, state of PA and federal taxes. So this isn't about not reporting as I file all my schedule C reports. Over the past years I just calculated everything on my own i.e. sales, taxes paid, deductions and whatnot. I tried to simplify things this year by looking for my 1099 and it tells me "No 1099 form available".  I had over 500 sales totaling about $4500. So something should be there. What gives? Am I missing something about where to find this.

[caldreamer · Accepted solution]

Laws regarding 1099 keep changing....this year $20,000 (next year will $600).   You don't need 1099 to file taxes.

EBAY has new "easy to read" 1-page report that shows YTD total for (gross sales/orders, EBAY fees, refund, shipping expense).    Go to PAYMENTS, REPORTS (on left-hand side click on REPORTS (NEW).   Enter time period 1/1/2022   12/31/2022.   

[monroe67]

"What gives?"

At the very end of 2022, the IRS changed their collective minds about minimum dollar amount of sales during 2022 that payers (such as eBay) are required to report to them (the IRS).  

There's a very good post from an eBay employee, "Sheila", about these new rules for 1099Ks -- that was posted on January 3, 2023.  It is the first post in the Selling Community. 

And tons of other posts here in this board about the 1099Ks.  

[gooseislandcollectibles]

I understand about not needing a 1099 as I have been filing without it for years. I was hoping to find one as I just wanted to compare my numbers with what eBay has. But your answer is what I was looking for. I saw it in previous discussion but somehow lost track of its location. This will help me reconcile all my numbers for all my local, state and IRS filings.

[stainlessenginecovers]

A 1099 would not be available yet for most everyone (due, by law by Jan 31), should you have required one.  Some states do require one be issued for money collected in excess of $600, $1000 etc. (Missouri, Calif for a couple). 

[dnasilver]

That would be 200 transactions and 20K. Not just 20K. You could do $10 million with 199 transactions and you would not get a 1099.

[355don]

i donr see california on the list of states for lower requirements

[nobody*s_perfect]

You're right.  California is not one of the states that have set up thresholds that are lower than the federal threshold.

[kh-cathy]

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.