I also sold a couple video old video games too which is also included in the 1099-k. Paypal has never sent me a 1099-k before. Am I supposed to pay taxes on the cashback and three used video games I sold on ebay?
(I always received a 1099-misc from the company but they didn't send this year because Paypal sent the 1099-k)
Edit: I'm in MA and saw there is a new law that my state requires a 1099-k now but still unsure about the cashback and ebay sales
Although Form 1099-K reports transactions through a third-party payment processor to you, the information is not sent to the IRS.
Report your self-employment income on Schedule C using your own income records. The sale of personal property on a small scale is not taxable income. Neither are rebates.