Quote:
Originally Posted by Formulabruce
Don't forget once you go over 600 in sales Ebay will 1099 you as INCOME , so you'll pay tax on items that were already taxed before. Thats new for 2022, thanks to congress.
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he wont pay taxes on $600 as income, when he can show he paid X dollars for them when purchased, the only amount taxed is if he makes a PROFIT on them.
i use ebay today & for the last 20+ years, the new 1099 thing is ridiculous but it still follows standard rules for actual profits made of items sold.