Did anyone living in the state of California receive a 1099-K tax form from EBay that was incorrect. My gross amount did not require a 1099-K yet EBay created one to send in. Still trying to get this resolved. NOT HAPPY Message 1 of 35 latest reply ...
Selling on eBay? Learn the tax rules for different types of sellers, whether you’re hosting an online garage sale or running a business. Understand when you need to report sales, how to track income and expenses, and the tax forms required by the IRS.
Do you occasionally sell things from your garage or closet on eBay? If so, those transactions may soon be put under a microscope by the IRS. Previously, only major sellers (completing hundreds of transactions totaling tens of thousands of dollars) would have their transactions automatically reporte...
Your side business could result in a tax headache whether you rent out your home on Airbnb, provide guitar lessons and accept payment via Venmo, or sell shoes on eBay. A new law mandating users who earn more than $600 in revenue to receive tax forms from sites like eBay, Etsy, and Ai...
First Year eBay Seller's Tax GuideeBay Seller's Tax GuideWhen it comes to taxes, here at , we've seen it over and over again. New eBay sellers go from "Do I have to pay taxes on things I sell online?" to "What are all these taxes I have to pay for things I'm selling ...
Filling out a W-9 form isn't difficult since it only requires a few pieces of basic information. You will usually submit a W-9 form when you receive payments for services you provide as an independent contractor, pay interest on your mortgage or even con
If you receive a 1099-K form, it generally includes the gross amount of all the reportable payment transactions from the platform (payment settlement entity) . The platform or app you used will send two copies of your 1099-K information. One is for you, so you can prepare your tax return...
Even those who sell on platforms like Etsy or ebay can expect to receive a1099-Kform from those digital payment services used for transactions. Small Business Tax FilingFAQs How much does a small business have to make to file taxes?
But eBay is not set up to do backup withholding in lieu of recording your SSN. They may have to do it in some unusual circumstances, but they are not going to agree to this at your convenience. The instructions for Form 1099-K require PSEs (payment settlement entities) to deduct backup...
It’s designed to catch those who might have been under-reporting income from eBay sales and online business dealings. Now, there is a record when you are engaged in selling in amounts that could at least be considered aside business. ...