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If self-employed revenue and expenses average $10,000/each, causing a net $0.00 profit/loss, would there be any necessity to report findings in a 1099?

For instance, $9000 revenue from eBay, but $9000 expenses eBay in the same year.
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3 Replies
ee-ea
Level 15

If self-employed revenue and expenses average $10,000/each, causing a net $0.00 profit/loss, would there be any necessity to report findings in a 1099?

The  IRS has the 1099's and want to see them in your return.

If self-employed revenue and expenses average $10,000/each, causing a net $0.00 profit/loss, would there be any necessity to report findings in a 1099?

The online platforms utilized for buying and selling communicated that 1099s were not filed with the IRS, due to being below the threshold amount of $20k within the given calendar year, and below 200 individual transactions.

 

What 1099s are being referred to when stating that the IRS has 1099s and seek to confirm them in returns?

ee-ea
Level 15

If self-employed revenue and expenses average $10,000/each, causing a net $0.00 profit/loss, would there be any necessity to report findings in a 1099?

I misread your question as "inbound" 1099's not "outbound " ones.

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