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tuphat
tuphat (@guest_2093561)
July 7, 2025 10:08

As noted by PJThe $20k/200 change is retroactive, and applies to payments from calendar year 2022 onwards.

Dad
Dad (@guest_2093535)
July 7, 2025 09:25

Now this is the content Dad comes here for. Dad is happy. Dad was not pleased that he had to dig through 2 pages of posts about regional banks offering bonuses in timbuktoo to find this.

mjm
mjm (@guest_2093660)
July 7, 2025 12:39

this site does have RSS feeds that are broadly categorized, but I think it’s just a little bit more burden on the author to categorize them to a feed

I use feedly to keep track of posts ive seen vs new ones

Mike Nagel
Mike Nagel (@guest_2093445)
July 7, 2025 00:19

Last year’s taxes I received a 1099-K for the first time when I only sold a few stuff but it was more than $600, so I am glad that they are increasing the amount back to $20,000 so I don’t expect to receive one next year since I don’t sell anything anywhere near that amount!

Eric 🔗
Eric 🔗 (@guest_2093492)
July 7, 2025 06:02

Don’t forget about the 200 transaction minimum that they added back also.

Frey
Frey (@guest_2093542)
July 7, 2025 09:43

Mike Nagel If you got a 1099-k last year for just over $600, it was probably your state requirements. Federal minimum wasn’t that low. State requirements won’t be changing,

Tommy
Tommy (@guest_2094158)
July 7, 2025 21:42

Exactly, they have delayed the federal change every year so far. It’s states that have been imposing it and it doesn’t seem like it’s going away

Adrien Agreste
Adrien Agreste (@guest_2093412)
July 6, 2025 22:05

booooooo jannies are now deleting messages boooooo

William Charles
Admin
July 6, 2025 22:12

We’ve always done this

Eric 🔗
Eric 🔗 (@guest_2093487)
July 7, 2025 05:52

Am I the only one that had to Bing “jannies”?

Matt F
Matt F (@guest_2093522)
July 7, 2025 08:55

You are not alone lol, guess late 20’s is the new mid 50’s.

HotSauceKing
HotSauceKing (@guest_2093409)
July 6, 2025 21:55

Didn’t find any raised ceiling for the W-2G . . . still $1,200 I suppose. 🙂

Adrien Agreste
Adrien Agreste (@guest_2093379)
July 6, 2025 20:23

jannies nuke this thread yet?

Adrien Agreste
Adrien Agreste (@guest_2093380)
July 6, 2025 20:25

I guess not lmao

Dman
Dman (@guest_2093376)
July 6, 2025 20:21

The comments here sure went political in a hurry.
As “enthusiasts” can we all agree this is at least a small light in the current credit card darkness?

Frypan
Frypan (@guest_2093523)
July 7, 2025 09:01

Why? As it says in the post, it doesn’t change your tax liability in any way. Only how it is reported.

The Man
The Man (@guest_2093363)
July 6, 2025 19:41

Here for the comments

Andie
Andie (@guest_2093433)
July 6, 2025 23:42

Awww, I’m late for the party and missed all the fun.

Darwin
Darwin (@guest_2093248)
July 6, 2025 14:05

Ideally, doesn’t matter as your tax liability is independent of this. Practically, it certainly matters! What is the rationale behind this loosening? I’ll probably never understand…

Chaser123!
Chaser123! (@guest_2093521)
July 7, 2025 08:53

It is less burdensome for 1099 filers.

Every Sperm is Sacred
Every Sperm is Sacred (@guest_2093159)
July 6, 2025 11:50

are we sure that the 2k for 1099k threshold starts this year and not in 2026? There are some conflicting reports out there such as this one (which says starting in 2026):
The One Big Beautiful Bill Passed: Learn What’s Changing | TaxAct
The Form 1099-K reporting threshold would revert back to $20,000 over at least 200 transactions starting in 2026.”
I think the above is an error but want to make sure before I start going over $2500 this year for ebay sales.

Frey
Frey (@guest_2093237)
July 6, 2025 13:27

Per the image of the bill text above, it states the amendments are effective for payments after December 31, 2025.

RiskandReward
RiskandReward (@guest_2093256)
July 6, 2025 14:22

The $2,500 1099k threshold for 2025 is not a part of this new bill. The threshold was announced late last year by the IRS.

Every Sperm is Sacred
Every Sperm is Sacred (@guest_2093315)
July 6, 2025 17:13

Sorry, I am confused. Chucks says the following in the post: Form 1099-K is only required to be issued for someone who receives $20,000 in revenue AND 200+ transactions. This is how it was all the years, until a few years ago when they started changing it – we wrote about that in this prior post.

So are saying that this doesn’t go into effect until 2026? The text above for the new bill repeals the $2500 in 2025 and $600 in 2026 thresholds for 1099k reporting. My only question is whether the new bill starts this year or next year since it says that the effective date shall take effect “as if included in section 9674 of the American Rescue Plan Act”…..which I don’t really understand what that means.

RiskandReward
RiskandReward (@guest_2093353)
July 6, 2025 19:16

I am going by IRS guidance for 2025 until we get more clarity on the new bill’s threshold and dates of effectiveness. I’m sure eBay will make an announcement soon if there is a material change for 2025.

PJ
PJ (@guest_2093367)
July 6, 2025 19:54

The American Rescue Plan was passed on March 11,2021 and it seems to make the change retroactive to that date. Any tax lawyers here?

frank the tank
frank the tank (@guest_2093368)
July 6, 2025 20:04
  PJ

Im a tax lawyer. Stop paying all taxes immediately. Nothing will happen to you. Also, go to your nearest bank with a mask on, bags with dollar signs and many loaded handguns.

tuphat
tuphat (@guest_2093558)
July 7, 2025 10:03
  PJ

You are correct. The $20k/200 change is retroactive, and applies to payments from calendar year 2022 onwards.

Frypan
Frypan (@guest_2093321)
July 6, 2025 17:38

Keep in mind that your tax liability on Ebay sales is not affected, whether you get the form or not.

Every Sperm is Sacred
Every Sperm is Sacred (@guest_2093349)
July 6, 2025 18:59

Yep, agreed. I’m selling pretty much all used items at a loss. I just don’t want the hassle of estimating cost basis since I typically don’t have receipts.

Every Sperm is Sacred
Every Sperm is Sacred (@guest_2093525)
July 7, 2025 09:04

I thought that part where it mentions the year after 12/31/24 for effective date only applied to section b relating to withholding. For section a, under effective date, it doesn’t say the year after 12/31/24. It says effective date shall take effect “as if included in section 9674 of the American Rescue Plan Act”.

All that said, I am almost sure that this applies for tax year 2025. It wouldn’t make sense that section a and section b would start in different years.