QUESTION FOR EBAY SELLERS

Tinkrbl44 · ‎08-23-2010

It seems we now need to include income from online sales on our tax returns. Not sure, but I believe this began in June of last year.

So .... has Ebay sent you a 1099 ... or did you find one online in your account? I can't find anything about this and have almost finished my taxes.

YES, I plan to call them if I can't locate this, but hate to call if it's right in front of me and I just didn't see it.

Feedback appreciated .......

jackthebear · ‎03-11-2010

@Tinkrbl44 wrote:

It seems we now need to include income from online sales on our tax returns. Not sure, but I believe this began in June of last year.

So .... has Ebay sent you a 1099 ... or did you find one online in your account? I can't find anything about this and have almost finished my taxes.

YES, I plan to call them if I can't locate this, but hate to call if it's right in front of me and I just didn't see it.

Feedback appreciated .......

came in the mail and is available to print from the account

TheMemphisVette · ‎02-01-2015

As a result, for tax year 2023, only eBay sellers who exceed the current reporting threshold of $20,000 and 200 transactions, had backup withholding applied in 2023, or are residents of states that have a lower reporting threshold will receive a Form 1099-K. For tax year 2024, the IRS announced plans for a $5,000 reporting threshold. We expect further guidance on the tax year 2024 and beyond in the coming months and will keep you in the loop.

~~today may be my last.....i choose JOY!~~

cheriere · ‎12-01-2023

I haven't sold anything on eBay in years, but I really hate that people now have to report this income, especially for occasional sellers. This is kinda like having to report what you make from a yard sale lol.

I realize there are huge businesses that no doubt make a lot of money on eBay. For these this may be appropriate.

sugarbee · ‎08-30-2014

For the tax year 2022 I received a 1099 when I sold right at $3,000.

Strange thing for me this month. I have been selling and buying on ebay for over 20 years. In 2023 I did not sell at all on the site. This January I decided to start selling again. My item was placed in the correct category but did not appear as a sale in that category, which it always had in the past.

I called and spoke to a rep and he said after checking, "since I had not sold for a year that my items would not appear under the main category. It was visible under a secondary category. I must place an item a day for a month to be qualified. It was all down to competion."

I am going to call back and speak to anothr rep. Have any of you encountered this situation or know of a change?

cheriere · ‎12-01-2023

@sugarbee That's terrible! I didn't know that was the new practice for selling items either. I have a ton of things I need to get rid of and I'd actually considered using eBay again. But this doesn't sound very promising for me. 😔

Tinkrbl44 · ‎08-23-2010

@cheriere wrote:
@sugarbee That's terrible! I didn't know that was the new practice for selling items either. I have a ton of things I need to get rid of and I'd actually considered using eBay again. But this doesn't sound very promising for me. 😔

@cheriere

It's been talked about for at least a few years now. Read post #3 if you haven't already done so.

Some people just like to sell old stuff, and some have made quite the business out of it. I doubt selling some old bracelets puts you in the same category as someone who sells a ton of makeup or books, so go ahead and list at least some of your stuff.

Tinkrbl44 · ‎08-23-2010

@TheMemphisVette wrote:
As a result, for tax year 2023, only eBay sellers who exceed the current reporting threshold of $20,000 and 200 transactions, had backup withholding applied in 2023, or are residents of states that have a lower reporting threshold will receive a Form 1099-K. For tax year 2024, the IRS announced plans for a $5,000 reporting threshold. We expect further guidance on the tax year 2024 and beyond in the coming months and will keep you in the loop.

@TheMemphisVette

Whoa! Dropping from $20k to $5k in one year seems a bit odd, even for the iRS.

I looked EVERYWHERE on my ebay account and couldn't find anything.

Of course, after I posted here, I found the secret hidden area and it said there is no report for me for 2023 .... I didn't sell enough to issue a report.

No complaints here.

San Antonio Gal · ‎05-18-2017

I didn't sell enough in 2023 to report.

cheriere · ‎12-01-2023

@Tinkrbl44 wrote:
@cheriere wrote:
@sugarbee That's terrible! I didn't know that was the new practice for selling items either. I have a ton of things I need to get rid of and I'd actually considered using eBay again. But this doesn't sound very promising for me. 😔

@cheriere

It's been talked about for at least a few years now. Read post #3 if you haven't already done so.

Some people just like to sell old stuff, and some have made quite the business out of it. I doubt selling some old bracelets puts you in the same category as someone who sells a ton of makeup or books, so go ahead and list at least some of your stuff.