Ebay 1099 reporting

[jaclyn209]

I'm in illinois and my threshold is $1000 in sales before I get a 1099k. Now that payments are going through eBay, will I still be under the 1000 threshold or the 20k threshold for reporting?

[luckythewinner]

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@jaclyn209 wrote:

I'm in illinois and my threshold is $1000 in sales before I get a 1099k. Now that payments are going through eBay, will I still be under the 1000 threshold or the 20k threshold for reporting?

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If you meet the threshold in managed payments, then I assume that managed payments will follow the law and send you a 1099K. 

Do you have some reason to believe that Illinois has a special rule just for managed payments?

[ravroadman]

The thresholds depend on the state. If you are in Illinois you should be receiving the 1099k form the first week of February. eBay Managed Payments generally sends it from Jan 31 to Feb 7.

[slati_2013]

State laws say any "third-party settlement organizations" meaning PayPal or Ebay have to report any transactions I am in Virginia and the law is $600 + 0 transactions. Any payments made to anyone with a mailing address in the state that meet the threshold must be reported. So yes, eBay will have to report to your state if you pass $1000. 

[azh-71]

Were you getting one from paypal? If yes, you will be getting one from ebay.  Nothing changes, only the company that processes your money.