upstart1966
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Community Member since ‎06-07-2018
‎07-06-2024

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After researching the subject, this is what I can up with as a plan to report the 1099-K gross amount. In my case a portion of the gross amount is taxable. If you are a non-business casual eBay seller, receive a 1099-K for the sale of a personal item...
I am a casual eBay seller. For 2022 I expect to receive a 1099-K for ~$2364 gross sales which includes (6) taxable sales and (11) non-taxable personal items sales. In the case of the (11) non-taxable sales, I have entered them on Form 8949 using Code...
If one exceeds the $600 limit are you subject to taxes on the initial $600 or just the excess amount?