@jedisilkywrote:I received a 1099-K form from Ebay. I investigated and learned if you sell $20,000 or go over 200 transactions you are required to report your Ebay income when filing taxes. Are those limits meant to be annual? The language of the rule is so vague. I sold about $1,400 dollars worth of stuff in 2021 and had probably less than 30 buy/sell transactions in 2021. So clearly I did not bust the rule limits in 2021 alone. My 15-plus year old account did however get to a lifetime total of 215 transactions during 2021. Am I forever now cursed with paying taxes for anything I sell on Ebay, simply because my long lived account finally crossed a certain (200) number of transactions? This is so stupid. I guess someone in my shoes just needs to open a new account every decade or so to get around this nonsense? Am I missing something here? Or is it a mistake that Ebay processed and sent me a 1099-K? Thanks for any info.
It's annual.
You should be reporting income anyway with few exceptions(f these are personal items you sold at a loss being the main one).
But if you got a 1099, time to claim it and line up your expenses and deductions. Shouldn't really be a big issue.
And don't worry, everyone will be getting them soon enough.
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