will i get 1099- k?

[rpglover234]

i sold something last year for around $150. but im hearing they only send one if you reach a certain threshold  like $200 i think. if i dont get one that means i dont need to submit anything right?

[ebooksdiva]

Whether or not ebay sends you a 1099 is irrelevant. You should be reporting your income whether it is $100.00 or $20,000.00 to the IRS when you file taxes. Even if it may not be taxable. 

[rpglover234]

how exactly would i do that when it seems like the only way to report is to have a 1099?

[nobody*s_perfect]

You don't need a 1099-K to report your income. You can generate any report you need through eBay: total sales, postage, etc.

[ebooksdiva]

Not true . You declare your eBay income as self employment under schedule C when filing. 

[monica-sells]

exaggerating a bit, but here is some food for thought......

you found a lucrative corner and collect $100 in generous "pass-the-hat "donations" for a cup of coffee....

You continue to find lucrative locations for your new found source of money....

60 days later you have generated $6000.00 in "donations".....

so, you did this for a year and have $21,600 for your part-time gig......

Are you going to get a 1099-K from the hundreds of people that threw money in your hat?

not likely......but you best be reporting it somewhere on your 1040 return

[monroe67]

"if i dont get one that means i dont need to submit anything right?"

What do you mean to say by:  "i don't need to submit anything right" ?

eBay's threshold for preparation and reporting to the IRS is $20,000 and 200 sales transactions.  Once a seller crosses both of those lines, then eBay is required to tell the IRS about those transactions, using the Form 1099K. 

Now -- what are you talking about when you say you need to submit something?  

All your income is supposed to be listed on your Form 1040 tax return.  The majority of the first page of the 1040 is a series of lines where the taxpayers are supposed to list all the money they received ("income") during the taxable year.  

[monroe67]

"how exactly would i do that when it seems like the only way to report is to have a 1099?"

Easy !!  
Just find the line under "Income" on your 1040 form that best applies to income from online sales, such as eBay.
In the space for online sales on the right-hand side of the 1040 form, write "150.00."  

Or if you (or anybody else who might be reading this) - - - - -
If your eBay sales were "only" $19.99, write "19.99" in that space on the 1040.  

The IRS is fully aware that if you sold less than $20,000 on eBay during 2022, you will not have a 1099K form to back up that amount.