eBay

stinky1965 · ‎09-23-2020

Hi, I'm trying to determine if I will receive a 1099 from either Ebay or Paypal. here is my scenario:

I'm over $20,000

190 sales on Ebay

180 transactions on PayPal, the rest deposited via new managed payment system to bank account

If I receive 11 more transactions via PayPal but outside Ebay, will I receive a 1099 from either company? I'm assuming no but just want to check with you all.

I know I have to report the 201 transactions as income but will I receive a 1099 since I'm under 200 for both Ebay and PayPal?

luckythewinner · ‎09-23-2020

The 1099 thresholds are not about eBay sales, it is about processed payments.

PayPal will issue a 1099K based on the total amount deposited in your PayPal account - regardless of where that money came from or why it was deposited.

eBay/Adyen will issue a 1099K based on the total amount deposited in your eBay/Adyen account - regardless of where that money came from or why it was deposited.

For instance, Massachusetts requires the M-1099-K for amounts over $600.

As for whether you will get a 1099K, that depends upon PayPal and eBay/Adyen.

The law payment processors must issue one for $20K and 200 transactions, but the law does not say they cannot issue one to people who do not meet the threshold.

nobody*s_perfect · ‎09-23-2020

If you are under 200 transactions with PayPal, then PayPal will not send you a 1099-K.

gracieallen01 · ‎09-23-2020

A 1099 doesn't matter in regards to paying taxes - they are supposed to be declared, whether or not you receive one.

Not saying 'NO' doesn't mean 'YES'.

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