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Downesb27
New Member

1099 K Limit - Married

If I sell items on ebay and remain below the $5,000 limit, I understand that I won't be getting a 1099K.  If my wife has an ebay account, under a different Tax ID, does she receive a $5,000 limit as well?  In other words, is the 1099K limit really $10,000 ($5,000 each) for married filing jointly?

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PatriciaV
Expert Alumni

1099 K Limit - Married

While neither you nor your spouse may receive Form 1099-K for sales on eBay, you are still required to report the income. If selling these items is a business with the intent to earn a profit, then you would report the actual sale proceeds as self-employment income on Schedule C (subject to self-employment income tax).

 

However, if this is a hobby or occasional income with no profit motive, you may report this as "Hobby/Other Income" on your personal tax return.

 

Also note that if this was a one-time sale of used personal items, and you sold the items for less than you paid for them, this would be considered "yard sale" income. If this is the case, you would not be required to report the income at all.

 

Additional information: Do I have to report personal items that I sold at a yard sale?

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