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01-13-2022, 09:46 PM | #1 |
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Form 1099-K
Anyone not familiar with 2022 changes to the 1099-K form needs to know that gross payments for 2021 were $20,000 as of Jan.1 2022 it dropped to $600.This is a IRS information return used to report certain payment transactions to improve voluntary tax compliance. To learn more about this Google 1099-K and read what irs.gov says. The way I interpret this is if you sell anything for more than $600 and it's payed by check,credit or debit card,paypal you will get a 1099K for every transaction.
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01-13-2022, 10:30 PM | #2 |
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Re: Form 1099-K
FJB
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01-14-2022, 12:07 AM | #3 |
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Re: Form 1099-K
I read if it's over 600 per year and not per transaction. Zelle, paypal,Venmo will also be included.
Gov wants to know about your cash. |
01-14-2022, 10:29 AM | #4 |
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Re: Form 1099-K
I just received one form the Social Security office for a check for the amount of $663.50 I received from the SS after the death of my mom last year.
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01-14-2022, 10:55 AM | #5 |
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Re: Form 1099-K
I recently listed some concert tickets for sale on StubHub and noticed that their software asked how much I paid for them. I have bought, and sold, tickets to concert and sporting events for years on this platform and had never seen this question.
After seeing this, I did a little research and found out......wait for it......yep, the IRS wants their share of the profits! |
01-14-2022, 11:11 AM | #6 |
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Re: Form 1099-K
Wonder if I can get a refund on all the money I’ve lost on race cars and parts?
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01-14-2022, 11:31 AM | #7 |
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Re: Form 1099-K
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01-14-2022, 01:59 PM | #8 |
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Re: Form 1099-K
A friend of mine has(d) made a living off ebay; now he says they charge sales tax and insist on using pay pal....he says about a 15% hit
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