How many items do you sell?

[JohnnyFlake]

First of all it's not ebay to begin with, it's paypal. And it clearly states-

PayPal is required to report gross payments received for sellers who receive over $20,000 in gross payment volume AND over 200 separate payments in a calendar year. Under the legislation, we'll report to the IRS the total payment volume received by US account holders whose payments exceed both of these levels in a calendar year:

• US$20,000 in gross payment volume from sales of goods or services in a single year
• 200 separate payments for goods or services in the same year

IRC Section 6050W applies to all payment processors, including PayPal. Our goal is to help PayPal sellers understand and comply with the new requirements.

https://cms.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&content_ID=marketing_us/IRS6050W

It's best to go to the source versus some ebay gossip forum

I must apologize, I did complete some further research and find that your are correct, it is both over 200 sales and a revenue of over $20,000 in sales!!!

 

Amazon Forum Fav 👍

DR.ÖTEK Metal Detector, Waterproof Gold Detector, Pinpoint & Terrain Modes, Professional Metal Detector - Grab it through Amazon!

[diggummup]

I must apologize, I did complete some further research and find that your are correct, it is both over 200 sales and a revenue of over $20,000 in sales!!!

No harm, no foul. Just trying to keep the information on this forum factual. Nothing like passing on wrong information, know what I mean.

 

[2Minnesota]

Does anyone know...if eBay sends you notification or a W2 type form at the end of the year if you sell that amount? Has anyone gotten one? Thanks!

 

[mjlalt]

You will get a 1099K from paypal with 200 sales and over $20,000 in sales.

 

[2Minnesota]

Thank you!