• 1 year ago
    Saved!
    https://www.yahoo.com/news/did-sell-old-desk-online-183708171.html

    "Before this year, online companies that process payments — including marketplaces like eBay and Poshmark and payment services like PayPal and Venmo — were required to send 1099-Ks only to sellers who exceeded 200 transactions and $20,000 in income annually.

    But this year, the income threshold dropped to $600, with no minimum number of transactions. If you received $600 or more for the sale of goods or services, you may receive a 1099-K in early 2023 — even if you are just an occasional online seller of used household items or clothing."

    Rage.

    This severely impacts the quality of videogaming as a hobby. It's almost what it would be like if the US government banned game rentals.
    Loading …
    • Husky Wing
      Saved!
      Husky Wing
      Editing … Do you actually have to fill out the 1099-Ks though
      Loading …
    • rockshard PhD
      Saved!
      rockshard PhD
      Editing … I don't know.
      Loading …
    • rockshard PhD
      Saved!
      rockshard PhD
      Editing … I also find it interesting you're excused from paying taxes on items you sell at a loss. But I have no idea whether you'd have to track those items regardless.
      Loading …
Deleted!
  • Saved!
    (≡ˆ⊝ω⊝ˆ≡ )
    Loading …
    • Saved!
      Editing … (≡ˆ⊝ω⊝ˆ≡ )
      Loading …
  • Saved!
    Editing … (≡ˆ⊝ω⊝ˆ≡ )
    Loading …