2878142
I received a 1099-K from ebay. My total gross payments were under $3000 for 5 transactions.
The IRS delayed the shift to the lower limits of $600 for 2022 so the limits of $20,000 and 200 transactions still apply. Does this mean I do not have to reflect the 1099-K when preparing my 2022 taxes since I am below the 2022 minimum limits? It would seem to or does the fact that ebay sent me a 1099-K mean I need to include it in my 2022 income calculation so things match up?
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No, you still have to report the income.
If this was business income then you would have to enter it under self-employment income on Schedule C:
Please see What is the self-employment tax?, What self-employed expenses can I deduct? and What is Form 1099-K? for additional information.
If this was for the sale of a personal item then please see the instructions below.
For TurboTax Online:
For TurboTax Desktop:
Thanks.
This was from the sale of personal items, not as part of my business.
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