Quote:
Originally Posted by Jewish-collector
A related question -
I recently received a message in ebay asked for my tax id # (social security number) because I went above the $600 threshold here in 2021 and ebay says they're required to generate a 1099 for year 2021 due to IRS requirements. My question is I never received this request in previous years when I was above the $600.
Is this request new because they moved me to managed payments in August 2021 or did something else changed ?
I know in the year 2022, the thresholds change to $600, but year 2021 should be the $20,000 and 200 transactions. Correct ? Thanks.
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While the Federal threshold for 2021 is $20,000 some states have different thresholds for State income taxes. I'm in Maryland and I understand they use the $600 threshold now.