Live in Massachusetts received a 1099-k from PayPal for the amount of 627.00 Massachusetts changed 1099-k reporting to anything over 600.00 where do i enter it

[MaryK1 · Accepted solution]

If you received money from paypal, but not as a business or with the intention of making money, you would not have to report the income on your tax return- unless you sold the items for more than you purchased them for.  Even though you do not have to report the income, keep a copy of the 1099-K with a list of the items you sold and how much, with your tax records.  If you did sell items as a side job, you would include the income on Schedule C (as business income)

From the Massachusetts Department of Revenue: If you receive either a federal Form 1099-K or a Massachusetts Form M-1099-K that shows amounts paid to you, you must report taxable amounts on Schedule X, as other income, or if such amounts are derived from a trade or business, on Schedule C. See TIR 17-XX. (emphasis added)

[ricknbfd]

this is money received where do I enter it  on turbo tax for the state  dont believe I have to for federal because they are 20,000 or 200 transactions before a 1099-k is required

[ricknbfd]

Massachusetts changed it to 600  Federal  is at 20,000 or 200 transactions  so do I only have to enter it  in the state return not federal and not sure where to enter it  on turbo tax thank you for all the help

[Zbucklyo]

Was this hobby income?  If so, you still must report it on your federal tax return regardless of the 1099-k filing requirement.

[MaryK1]

I added a picture of what to fill out on the Mass state tax section if you did not include it on your federal return.

[theduffys23]

Sale of personal property not for a profit - how would one prove this income was not TAXABLE? example - we sold items that we have owned for decades this year because one of us has been out of work. We have no proof of what we paid for them back then. Would a paypal account printout suffice for deducting the cost of shipping in the difference between what was reported on the 1099-K? That's what the bulk of this income was, shipping.

[kiltym]

Can you please explain how one gets access to the referenced screen shot above?  I have looked all over the Mass. step-by-step forms and can never find access to this page you reference?  I can see how to enter directly in Schedule X, but prefer to use the form as described above.  Thank you.

[gillham]

"I added a picture of what to fill out on the Mass state tax section if you did not include it on your federal return.

TurboTaxMaryK1 24 days ago"

I cannot find this in the Massachusetts Section using TurboTax Deluxe. Can someone point me in the right direction?

[MaryK1]

@gillham  I am looking for it, i did not find it in Deluxe yet but I am searching for you.

[Tax1]

I found this on MA gov website. <a rel="nofollow" target="_blank" href="https://www.mass.gov/service-details/frequently-asked-questions-about-1099-k-notices-from-third-part...>

[jay7]

In the above website it says "IS NOT subject to tax or any reporting"

[startreksuite]

I also received a 1099-K from Paypal as I live in Mass and made $1,500 on personal items sold at a loss through ebay. I found the answer to my question here:

https://www.mass.gov/service-details/frequently-asked-questions-about-1099-k-notices-from-third-part...

This tells us all we need to know about about what we need to do.
It sounds like you will need to do nothing if you were selling personal items at a loss.
Good luck!