04-26-2022 05:06 PM
Thanks for any help. Just wondering, if I am already getting a 1099-K from Ebay for the year for sales over $600.... and I sell a few items via some non-ebay related groups I'm in and invoice for them via PP, but the gross sales is under $600 for the year.... will I get another 1099 from PP since I'm already over the $600 on Ebay? Trying to keep it as simple as possible as I'm not going to make enough between any of them to make it worth the trouble to get all these forms and itemize. Thanks.
04-26-2022 05:12 PM
No, they are 2 separate companies so one doesn't know what the other is doing....... If you go over on both, you'll get a form from both.
04-26-2022 07:11 PM
@flutterybutter wrote:Thanks for any help. Just wondering, if I am already getting a 1099-K from Ebay for the year for sales over $600.... and I sell a few items via some non-ebay related groups I'm in and invoice for them via PP, but the gross sales is under $600 for the year.... will I get another 1099 from PP since I'm already over the $600 on Ebay? Trying to keep it as simple as possible as I'm not going to make enough between any of them to make it worth the trouble to get all these forms and itemize. Thanks.
Just make sure you keep really good records on the items you sell through your non-eBay related groups so you can report that income along with whatever you sell on eBay.
04-26-2022 07:22 PM - edited 04-26-2022 07:22 PM
@flutterybutter wrote:Thanks for any help. Just wondering, if I am already getting a 1099-K from Ebay for the year for sales over $600.... and I sell a few items via some non-ebay related groups I'm in and invoice for them via PP, but the gross sales is under $600 for the year.... will I get another 1099 from PP since I'm already over the $600 on Ebay? Trying to keep it as simple as possible as I'm not going to make enough between any of them to make it worth the trouble to get all these forms and itemize. Thanks.
No.
The law requires payment processors to report the payments they process.
It does not require every payment processor to contact every other payment processor on earth and coordinate their reporting.
04-26-2022 09:25 PM
I'll probably be getting four of the little boogers next year. I don't mind - it makes it easier to reconcile my taxes when I have bits of paper to stare at rather than a bunch of spreadsheets. But they'll all be independent of each other, similar to if you work several gig jobs and they each send you a 1099-MISC.