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eBay Maddness and a Warning
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<blockquote data-quote="Sandpatch" data-source="post: 777647" data-attributes="member: 10543"><p>Came upon this thread and wanted to mention that as a result of changes to the tax code, beginning 01/01/2022, Sellers on eBay will receive a Form 1099-K from eBay if they generate $600 or more in annual sales. This will be reported to the IRS and Sellers will be responsible for taxes on the net profit for all items sold. The threshold was $20,000, so this is a significant change and will prove to be a headache for amateur Sellers cleaning out an attic.</p><p></p><p>This has probably been posted elsewhere here, but thought I'd mention it if not.</p></blockquote><p></p>
[QUOTE="Sandpatch, post: 777647, member: 10543"] Came upon this thread and wanted to mention that as a result of changes to the tax code, beginning 01/01/2022, Sellers on eBay will receive a Form 1099-K from eBay if they generate $600 or more in annual sales. This will be reported to the IRS and Sellers will be responsible for taxes on the net profit for all items sold. The threshold was $20,000, so this is a significant change and will prove to be a headache for amateur Sellers cleaning out an attic. This has probably been posted elsewhere here, but thought I'd mention it if not. [/QUOTE]
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