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#1
01-01-2022, 10:50 PM
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new 1099-K rules
With the new 1099-K issuing rules (starting 1/1/22) if you receive over $600 on PP, venmo etc in a given calendar year (as opposed to the former 200 sales + $20,000 income) the IRS will issue you a 1099-K and count it as income unless you can prove you took a loss. I make alittle bit yearly from sales. Don't need the money but like to get rid of dupes but the hassle and headaches this will cause will probably make me pull all stuff off ebay. I wonder how others feel about this
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