New fee structure with 1099 k

[Anonymous]

I've been selling on ebay for 14 years.  Is it worth the effort to continue selling with the new 1099 guide lined?  

[coastaltechsolution · Accepted solution]

Why would the new 1099 guidelines make any difference? 

Report income/expenditures/losses  as usual 

[jda05121]

Considering you should have been reporting your income yearly for the past 14 years, yes.

[this*old*attic]

I don’t know. You should have been keeping books and reporting income all along. Not to mention paying taxes, if necessary. And self employment.

You tell me.

[firesteel_surplus]

Like others have said the "new" 1099k has nothing to do whether you should continue selling or not. It doesn't matter to me if the 1099k threshold was $1 or $100,000.

I determine whether I should continue selling is whether I make any money. If I answer yes to that. I sell.

And I report my income on the Schedule C for tax returns.

If you haven't been doing that for 14 years, good luck.

And from a check of your sales, you already went running over the $600 this year. No sense in stopping now.

Mike

Firesteel Surplus

[nomad-pickers]

Maybe the IRS should be looking in these forums and maybe just order something from you and get your address and send you a notice of audit, SMH, pay your taxes people.