This announcement is geared towards reporting requirements for the companies who are issuing the 1099-K's, not towards those who actually do receive the 1099-K. If you receive a 1099-K, this does not change how or if you need to report it. You still need to report the income that is reported to you on the 1099-K.
Technically, if you sell items or earn any income you are supposed to report it. If there was no gain nor loss and you did not have the form, then you would be ok not to report it, but once you receive the form, you are obligated to report the income if you are filing a tax return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
