- 438
- 389
- Joined
- Mar 13, 2021
starting 2021 any item or items over $600 in a calander year will be required to be reported
as of now a person who sold 600 items or $20,000 in a year is required to report for tax (1099k)
all online merchant is required to file a 1099k
the profit margin is bad enough with fees. thanks to the feds its about to get much slimmer
only ppl making money off reselling is the middle man (ebay/mercari/posh/stockx/whatever) and the bank
as of now a person who sold 600 items or $20,000 in a year is required to report for tax (1099k)
all online merchant is required to file a 1099k
the profit margin is bad enough with fees. thanks to the feds its about to get much slimmer
only ppl making money off reselling is the middle man (ebay/mercari/posh/stockx/whatever) and the bank