I have one $37,000 ish and 52 transactions. MA address. What state was your account in?
Hold up, its $20k AND 200 transactions? I thought it was either/or. So I can do $40K in 150 transactions and not generate a 1099K if I'm in say....Florida?
Hold up, its $20k AND 200 transactions? I thought it was either/or. So I can do $40K in 150 transactions and not generate a 1099K if I'm in say....Florida?
AND. Have to meet both.
VT and MA have it so once you've done $600 (doesnt matter # of sales) you get 1099K.
The Following User Says Thank You to Sunspot144 For This Useful Post:
Hold up, its $20k AND 200 transactions? I thought it was either/or. So I can do $40K in 150 transactions and not generate a 1099K if I'm in say....Florida?
Yes, correct.
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The Following User Says Thank You to phaz0rz For This Useful Post:
I wouldn't be surprised if California started doing the same thing as VT and MA this year.
I have stealth accounts in CA. The Tax ID warning/ limitation happened at the usual 200/20k thresholds. Whereas my accounts in MA and VT got the notification after the first couple of sales. So in that regard CA is not following the same steps as VT and MA.
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I have stealth accounts in CA. The Tax ID warning/ limitation happened at the usual 200/20k thresholds. Whereas my accounts in MA and VT got the notification after the first couple of sales. So in that regard CA is not following the same steps as VT and MA.
The only one I have is a business account so I can't really judge..
I wonder what's going on then. I think I've seen at least 2 or 3 guys on the forum with CA (California) accounts saying the same thing.
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The Following User Says Thank You to phaz0rz For This Useful Post:
The transaction history was not loading properly on my pp accounts. It looks like after going through my CA accounts I get a Tax ID limitation at the standard approximate of 190-200 transactions.