I just received in the mail a 1099-K for eBay and that's after I had already received a 1099-K from PayPal. The dollar amounts by month don't match and the gross amount on the eBay 1099-K is ~$500 more than the PayPal one. I have no idea how I'm even supposed to reconcile these. Additionally, I didn't think we were supposed to account for these unless there was a single sale over $600. Any ideas?

Comments

You must log in or register to comment.

DeluxeXL t1_j6kbw80 wrote on January 30, 2023 at 10:56 PM

Were your transactions business or personal? Did you make any profit from any individual sale?

zangster OP t1_j6kekd7 wrote on January 30, 2023 at 11:14 PM

They were all personal transactions. Just clearing out things from my closet and old game and sports cards. Unfortunately, these are things I've had for decades so it's not like I can go back and see how much I paid for them.

DeluxeXL t1_j6kez9b wrote on January 30, 2023 at 11:17 PM

Unless they're collectibles, it's not likely you made any profit. Follow the process in Understanding your Form 1099-k: Personal items sold at a loss.

AutoModerator t1_j6k997q wrote on January 30, 2023 at 10:39 PM

You may find these links helpful:

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

stoplightarrival t1_j6kdvha wrote on January 30, 2023 at 11:09 PM

The $600 limit by the IRS is on calendar year total, not individual sale amount. So for that piece...there's your answer.

[deleted] t1_j6kem93 wrote on January 30, 2023 at 11:14 PM

[removed]