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Old 01-31-2023, 07:54 AM
x2drich2000 x2drich2000 is online now
(DJ) Rich.ard.s
 
Join Date: May 2009
Posts: 2,206
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Bob, well stated. As for me, I'm in NJ and this is the first year I got the 1099-k from Ebay. My sales in 2022 were about half of what they were in 2021. My purpose of posting wasn't to complain, I'm going to state my total sales from Ebay and other sources regardless of getting a 1099-k or not, but more to make folks aware not to assume they aren't getting a 1099-k just because Ebay is not required to send it. I think this part of your post should really be emphasized.

Quote:
Originally Posted by BobC View Post

However, even if you actually did end up making/receiving less than the prior year's $20K/200 transaction threshold limits, so you didn't really need to have a 1099-K form sent to you for 2022, just remember that the law is merely to force TPSOs to report and issue 1099-K forms once a certain level of sales/transactions was reached. There is NO rule or law that says the TPSO can't still issue a 1099-K form to anyone that comes in below those threshold limits. So even if the TPSO you got a 2022 1099-K form from didn't need to send you one, they could still do so if they wanted. And there isn't a darn thing you can say or do about it as long as the amount(s) they reported on it is/are correct. So again, try calling the TPSO that issued the 1099-K form to you and find out if it was an error, or maybe them just deciding to go ahead and start using the lowered reporting threshold for reporting purposes anyway. As I mentioned, they probably had already set up their entire automated systems to calculate and report everything based on the lowered reporting threshold already, and maybe figured it was even more work and bother for them to try and change everything back at literally the last minute. The big thing you want to try and confirm though is if the TPSO does admit to not having needed to send you the 1099-K form, are they still the going to forward a copy of it to the IRS as well. If they cannot, or will not, either confirm or deny they will be forwarding a copy to the IRS, you need to think long and hard about being safe, and smart, and being sure to report that 1099-K income somewhere on your 2022 federal income tax return. Remember, legally you are supposed to be reporting that income on your tax return whether you got a 1099-K form reporting it to you and the IRS, or not! For if the TPSO does end up sending a copy of your 1099-K form for last year to the IRS, and you do not include and report it somewhere on your 2022 federal 1040 tax return, I can GUARANTEE you with 100% CERTAINTY that you will eventually be contacted by the IRS about the discrepancy on your return.
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