02-01-2025 11:12 PM
How do I find my total sales for January? Also, I want to stay under the $2500 IRS reporting limit this year. To determine the $2500, does ebay just include selling price, or do they include sales tax in the figure.
02-02-2025 11:33 AM
It is too late for you to avoid a 1099K for 2025, as you are just a sneeze away from selling enough already to meet the minimum threshold.
02-02-2025 11:43 AM
02-02-2025 12:09 PM
I guess I will just keep the best records I can. There is nowhere here to sell my stuff.
02-02-2025 12:19 PM
@oillamp wrote:I report my estimated net profit every year to IRS and pay my taxes. I pay everything I owe. BUT, I sell things I have accumulated over the years and do not have receipts. (Who gets receipts at yard sales and purchases from friends and neighbors). I can not prove how much I paid for sold items if audited. That is my reason for not wanting a 1099. Without a 1099 to IRS I can pay my owed taxes, IRS would not even know I was selling items on ebay, and not have to worry about having to prove what my net income was. I am not a business, just selling items I have accumulated the past 60 years. I have a lot, and many are expensive. I lose money on many items I sell (I can not prove it), I just want them gone.
I don't understand..if you already pay on your estimated net profit, what difference would a 1099 form make in the process? Your reasoning does not hold water.
02-02-2025 04:17 PM
You apparently did not read my above post.