What to do with a 1099-K Tax Form from eBay

What to do with a 1099-K Tax Form from eBay!

Effective Jan. 1, 2022, eBay sellers that have sold at least $600 of goods will receive a 1099-K tax form. Previously, the 1099-K income threshold for e-commerce sellers was $20,000 in annual sales (with a minimum of 200 transactions).

Once a seller reaches the $600 threshold in annual sales, eBay will require the seller to provide their full 9-digit Social Security number (or Individual Tax Identification Number). If the information isn't provided, eBay payouts will be put on hold and your ability to list on the eBay might be restricted.

eBay encourages all sellers to talk to a tax professional to determine whether or not they have taxable income. Doing so can help you determine how to report amounts listed on your 1099-K.


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~ Justin


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Timecodes
0:00 - Who Gets a 1099-K from eBay
0:55 - What to do if you receive a 1099-K