threshold 200 / 20k 1099k

[SUPERNINJA]

Will the 200 transaction EIN requirement go away on New Year's? Does the threshold follow you into the new year?

[BigCJ]

New year it generally resets.

[SUPERNINJA]

thanks! this is good news

[yankee]

It is an annual tax year threshold based on USA IRS 1099K laws.

[SUPERNINJA]

Originally Posted by yankee

It is an annual tax year threshold based on USA IRS 1099K laws.

Hi again,
I understand they don't ask for your SS# unless you max out a year's sold items of 200 items or 20k. But others are continuing to say that it's still cumulative. So, if I just sold 150 items in 2017 in a new ebay acct with a total of 15k in sales, but next year, in 2018, I sell just over 50 items on that account,
with total sales over 5k, then I've reached this 200/20k threshold (they say).
Could you please confirm that you are exempt from the 1099k request with SS# verification when you eventually reach this 200/20k? Once and for all, it is not cumulative, just rolls over every year as long as you stay under the threshold........

thanks!

[bjammin]

It is not cumulative. It is between January 1st to December 31st. Once January 1st 2018 comes around, your limits reset. This is per calendar year. You can find this information on paypals website and see for yourself so you will not have to take anyone's word for it, nor be confused with who to believe and who not to believe.