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  #1  
Old 08-12-2020, 05:58 PM
Flintboy Flintboy is offline
Br1an N0Iff
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Join Date: Aug 2009
Posts: 287
Default 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 Iím getting conflicting answers. Canít seem to locate the answer on ebays website either.

Any help is appreciated!

Thanks
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  #2  
Old 08-12-2020, 06:11 PM
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BabyRuth BabyRuth is offline
Jim B.
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$600 in sales in Massachusetts triggers a 1099 from feebay!!!
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  #3  
Old 08-12-2020, 06:25 PM
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prestigecollectibles prestigecollectibles is offline
Robert Klevens
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I found it here on eBay
https://www.ebay.com/help/selling/fe...-1099k?id=4794
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  #4  
Old 08-13-2020, 05:39 AM
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toledo_mudhen toledo_mudhen is offline
Lonnie Nagel
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Quote:
Originally Posted by BabyRuth View Post
$600 in sales in Massachusetts triggers a 1099 from feebay!!!
Yea - Not sure why you guys get singled out?

Sellers in Massachusetts and Vermont

Massachusetts and Vermont use a threshold of $600 and donít use a transaction threshold, so if you reside in one of these states, youíll 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. Weíll also report this amount to the Massachusetts or Vermont tax authority as applicable. You should also note that your gross payments wonít be reported to the IRS unless you exceed $20,000 in gross payments and have more than 200 transactions.
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Old 08-13-2020, 06:34 AM
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Jim65 Jim65 is offline
Jam.es Braci.liano
 
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Quote:
Originally Posted by toledo_mudhen View Post
Yea - Not sure why you guys get singled out?

Sellers in Massachusetts and Vermont

Massachusetts and Vermont use a threshold of $600 and donít use a transaction threshold, so if you reside in one of these states, youíll 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. Weíll also report this amount to the Massachusetts or Vermont tax authority as applicable. You should also note that your gross payments wonít be reported to the IRS unless you exceed $20,000 in gross payments and have more than 200 transactions.
States set their own threshold which is the Federal is the same in all 50 states.

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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