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Get your taxes done using TurboTax
Online garage sales are not taxable unless you sold the items at a gain
Link:
https://www.irs.gov/businesses/small-businesses-self-employed/tax-tips-for-online-auction-sellers
There are new Massachusetts reporting requirements for third party
settlement organizations – Form 1099-K, here is a link to the website:
Text in question: "Beginning with Forms 1099-K filed for the 2017 calendar year, third party settlement organizations (“TPSOs”) must report the gross amount paid in settlement to a payee with a Massachusetts address when the gross amount paid in settlement in a calendar year is $600 or greater and is subject to taxation under G.L. c. 62, regardless of the number of transactions between the TPSO and the payee."
June 3, 2019
12:28 PM