eBay selling question
Is it 20k AND 200 items sold to trigger a tax statement from eBay or is it if you only hit one of those benchmarks? Surfing the internet and and I’m getting conflicting answers. Can’t seem to locate the answer on ebays website either.
Any help is appreciated! Thanks |
$600 in sales in Massachusetts triggers a 1099 from feebay!!!
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I found it here on eBay
https://www.ebay.com/help/selling/fe...-1099k?id=4794 |
Quote:
Sellers in Massachusetts and Vermont Massachusetts and Vermont use a threshold of $600 and don’t use a transaction threshold, so if you reside in one of these states, you’ll receive a Form 1099-K if the gross amount of payments you receive equals or exceeds $600, irrespective of the number of payments you receive. We’ll also report this amount to the Massachusetts or Vermont tax authority as applicable. You should also note that your gross payments won’t be reported to the IRS unless you exceed $20,000 in gross payments and have more than 200 transactions. |
Quote:
You know you are suppose to claim your Ebay income on your State and Federal tax returns, regardless of whether Ebay or PayPal report it or not, right? |
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