eBay

Anonymous · ‎08-21-2022

will the 1099K include sales tax

onefootflipper2 · ‎08-22-2022

@mam98031 wrote:
Your wife got her 1099K last year because of your state's requirement. Not the Federal requirement.

State requirement is $1200, not $1120, which is the amount on her 1099K.

mam98031 · ‎08-22-2022

@onefootflipper2 wrote:
@mam98031 wrote:
Your wife got her 1099K last year because of your state's requirement. Not the Federal requirement.
State requirement is $1200, not $1120, which is the amount on her 1099K.

Then you need to direct your question to your state as they are likely the ones that instructed Ebay to issue it.

mam98031 • Volunteer Community Member • Buyer/Seller since 1999

"I can explain it to you, but I can't understand it for you." Quote from Edward I Koch

onefootflipper2 · ‎08-22-2022

@mam98031 wrote:
@onefootflipper2 wrote:
@mam98031 wrote:
Your wife got her 1099K last year because of your state's requirement. Not the Federal requirement.
State requirement is $1200, not $1120, which is the amount on her 1099K.
Then you need to direct your question to your state as they are likely the ones that instructed Ebay to issue it.

I never had a question. I just said that no one should should assume that they are not getting the form. A whole bunch of people under their state requirements got them last year, there were a bunch of posts about it.

mam98031 · ‎08-22-2022

I'm aware, thank you.

mam98031 • Volunteer Community Member • Buyer/Seller since 1999

"I can explain it to you, but I can't understand it for you." Quote from Edward I Koch

chapeau-noir · ‎08-23-2022

<<It costs a good extra $100 to do your taxes if you have that sort of paperwork involved.>>

It does? It's 4th grade math, particularly if you have such a small amount to declare.

_______________________
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dbfolks166mt · ‎08-25-2022

State requirement is $1200, not $1120, which is the amount on her 1099K.

EBay had several issues and problems in dealing with the individual state requirements when they issued the 1099's in 2021, most notably to the CA sellers. Many of these were fixed but some required individual calls by the sellers to the IRS, either state or federal.

onefootflipper2 · ‎08-25-2022

@chapeau-noir wrote:
<<It costs a good extra $100 to do your taxes if you have that sort of paperwork involved.>>

It does? It's 4th grade math, particularly if you have such a small amount to declare.

Yes, but it seems like most people (myself included) just don't want to do a paper return anymore and none of the electronic options will do the schedule C for free or cheap.

mam98031 · ‎08-25-2022

@onefootflipper2 wrote:
@chapeau-noir wrote:
<<It costs a good extra $100 to do your taxes if you have that sort of paperwork involved.>>

It does? It's 4th grade math, particularly if you have such a small amount to declare.
Yes, but it seems like most people (myself included) just don't want to do a paper return anymore and none of the electronic options will do the schedule C for free or cheap.

Yes you can.

"You will need to file Schedule C annually as an attachment to your Form 1040.

The quickest, safest, and most accurate way to file is by using IRS e-file either online or through a tax professional that is an authorized IRS e-file provider."

https://www.irsvideos.gov/SmallBusinessTaxpayer/StartingaBusiness/ScheduleCWho#:~:text=You%20will%20....

https://www.irs.gov/e-file-providers/e-file-for-business-and-self-employed-taxpayers

mam98031 • Volunteer Community Member • Buyer/Seller since 1999

"I can explain it to you, but I can't understand it for you." Quote from Edward I Koch

bob-ibkzijrt · ‎08-25-2022

i would have been nice if ebay would have helped sellers to no about the lower threshold before the 2022 selling year started. so sellers could decied if they still wanted to sell.

got a 1099k back in 2020 did over $30,000 in sales and it was a b***ch now at $600.

it almost seem that selling online between selling fees & taxes you only get about 60% of your sales now witch leave's one to question is it even worth it anymore???????

mam98031 · ‎08-25-2022

@bob-ibkzijrt wrote:
i would have been nice if ebay would have helped sellers to no about the lower threshold before the 2022 selling year started. so sellers could decied if they still wanted to sell.
got a 1099k back in 2020 did over $30,000 in sales and it was a b***ch now at $600.
it almost seem that selling online between selling fees & taxes you only get about 60% of your sales now witch leave's one to question is it even worth it anymore???????

But Ebay did. They sent emails and had an announcement plus it was all over the community.

It was also in the news quite a bit too.

What is it that you feel Ebay failed to do?

mam98031 • Volunteer Community Member • Buyer/Seller since 1999

"I can explain it to you, but I can't understand it for you." Quote from Edward I Koch

luckythewinner · ‎08-25-2022

@onefootflipper2 wrote:
@mam98031 wrote:
Your wife got her 1099K last year because of your state's requirement. Not the Federal requirement.
State requirement is $1200, not $1120, which is the amount on her 1099K.

Was that her only account under that taxpayer ID number? Because the threshold is applied by adding up all the accounts for a taxpayer ID, not just for one account.