If the now delayed reporting of PayPal and Venmo income work similar to 1099 forms, its all receipts after reaching 600 threshold, NOT just 600 dollar transactions. - The Great Awakening - Where We Go Qne, We Go All!

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If the now delayed reporting of PayPal and Venmo income work similar to 1099 forms, its all receipts after reaching 600 threshold, NOT just 600 dollar transactions.

posted 1 year ago by GodBlessAmerica58 1 year ago by GodBlessAmerica58 +18 / -0

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– Glenn007 4 points 1 year ago +4 / -0

This is actually the way that I understood it from the very beginning. ALL 'cash' transactions once you hit $600 in transactions for the year.

Are there any tax lawyers that know how this will impact eBay sales? I sold a LOT of HO Scale trains and accessories this year (2022). I paid well over the eBay sales price, and paid sales tax when I bought them. I "hope" that with the delayed reporting that eBay won't be reporting sales this year! (FTR - I have no receipts for the past 5-15 years that I bought my trains.)

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– MI-Vet 0 points 1 year ago +1 / -1

So, apparently everyone in this thread missed the announcement from the IRS that all of this new reporting crap was delayed for a year? (at least)

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