Hi, I hope my query about this subject will be easier to answer.
I will receive my 1st ever 1099k for this year 2022. I had to give ebay my ssn. I never have ever gotten close in my sales to the 20k threshold prior.
I have no need any of the deductions or expenses many have asked about, or the distinction between "hobby or business". I simply just want the answer about where to put the income as it appears on the 1099k, on next years 1040SR I intend to pay taxes on the entire amount, much like my pension, which is 100% taxable. Schedule C is a bit overboard, I don't need to make any adjustments, deductions, expenses, losses etc. on the figure that will be on the 1099k. I am considering all to be profit and will therefore need to be reported on my 1040SR.
Thanks,
Steve
