03-28-2024 09:04 AM
How much can I sell on eBay this year without triggering a 1099
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03-28-2024 09:10 AM
You are required by law to file your income you made with eBay whether a 1099 is issued to you or not as well as how much you earned selling even if it is $10.00.
So far the threshold for eBay to send 1099 is $20,000 and 200 items sold. But many states have their own tax reporting thresholds, some states as low as $600, you might want to look into that as well.
03-28-2024 09:06 AM
You need to check with your state and see what their limit is.
Some states have lower limits then Federal.
03-28-2024 09:09 AM
Best to figure under $600 (still undecided by IRS) but know that
1.) ebay may require your SS#, Picture ID etc. once you get close (and will HOLD your payout $$ until you give it- not to mention they sometimes hold 'new' sellers (dormant over 90 days) for up to 30 days
2.) The 1099 is ONLY a 'reporting' requirement by processors but INDIVIDUALS are expected to show Any/All outside $$ on their tax return (yes, even garage sales).
03-28-2024 09:10 AM
You are required by law to file your income you made with eBay whether a 1099 is issued to you or not as well as how much you earned selling even if it is $10.00.
So far the threshold for eBay to send 1099 is $20,000 and 200 items sold. But many states have their own tax reporting thresholds, some states as low as $600, you might want to look into that as well.