Submitted by zangster t3_10pgf0x in personalfinance

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?

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DeluxeXL t1_j6kbw80 wrote

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

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zangster OP t1_j6kekd7 wrote

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.

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stoplightarrival t1_j6kdvha wrote

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

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