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I have a 1099-k from PayPal for eBay sales. I am not self-employed nor are eBay sales a hobby. I am just cleaning house clutter. Do I have to report income?
I have been using turbo tax for the last 4 years. It is unclear on TT how to enter 1099-k. It says to enter under less common income but the available entries do not match my situation. I work part time and eBay sales are a "cleaning house" situation. Everything comes from my household and I do not have a store on eBay.
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I have a 1099-k from PayPal for eBay sales. I am not self-employed nor are eBay sales a hobby. I am just cleaning house clutter. Do I have to report income?
If you did not make money from the ebay sales, you do not have to report the information on the 1099-K in TurboTax for the IRS- however, you will want to keep records of what was sold, for how much, and when you originally obtained the items/what price (as best as you can account)- the ebay sales summaries and/or listing are great because they usually have a picture/show condition etc.
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I have a 1099-k from PayPal for eBay sales. I am not self-employed nor are eBay sales a hobby. I am just cleaning house clutter. Do I have to report income?
If you did not make money from the ebay sales, you do not have to report the information on the 1099-K in TurboTax for the IRS- however, you will want to keep records of what was sold, for how much, and when you originally obtained the items/what price (as best as you can account)- the ebay sales summaries and/or listing are great because they usually have a picture/show condition etc.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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