| epimetheus039 | 01-04-2014 04:33 PM |
1099K and high volume/low price sales
Hello everybody. I have been reading a lot about 20,000 sales AND 200 transactions on these forums and many other ones but yet havent found exact answer just rather a slight assumption on when to expect 1099k form to be sent out. I have talked to some vets over on these forums, which gave me a better view on this whole picture but yet havent exactly answered my question. I am aware of "projectile sales" as well. So, I basically sell 10-25 dollars worth items, my accounts are business, and limits are 100/5000 at the start. And I basically fill out all 100 transactions with 1,300-1,800 per month. I am planning to lower my $ transaction limit to 1000 a month and 50-70 transactions. Yet If I were to use the account for the whole year it would only give me 12,000 BUT 600-840 transactions, so my question "has anyone who has done this scheme with high volume/low price been hit with 1099k? And if YES, then at what point of time and what were your SALES and TRANSACTIONS at ?" I am aware of "projectile sales" but if you are keeping amount of money on a monthly basis at lowest (1000 in my case) that isnt supposed to trigger 1099k form, right? I am very sure this topic will be helpful to plenty of members as I myself who had spent hours and hours looking for answer couldnt find exact answer. | 
