1099 K questions post filing

Forum|Forum|4 years ago
February 8, 2022
3 replies
10 views

Hi. I received a 1099 K from eBay and PayPal after I had filed my taxes. The income listed is reported elsewhere in schedule c. Do I have to amend my taxes and wouldn’t that be listing my income twice? Hope that makes sense. Thanks in advance!

MinhT1

Level 15

If you have already reported on your schedule C all the amounts listed on the 1099-K from Ebay and PayPal, then your tax return is complete.

You do not have to amend your return. You just have to keep these forms 1099-K in your tax records together with any notes showing that the amounts have been reported on your tax return.

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satatoga2304Author

Level 2

Thank you. I suppose one other question that pertains in a way to this is I know the 1099 k thresholds changed for the 2022 year ($600 or above and you have to report) but for places like EBay, Etsy, PayPal, do you still need to even file the 1099 k if you were under the $20,000 and 200 sales since that was the threshold for 2021? Thanks