2020 ebay 20k threshold met because of multiple connected accounts?
Hey guys
So since in 2020 tax year it's 20k threshold for 1099, does it still count if you met over 20k on three accounts under same name same ssn but separately those accounts never did anything over that?
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Re: 2020 ebay 20k threshold met because of multiple connected accounts?
Quote:
Originally Posted by Steveo036940
Yes you will get a 1099k for each account as you did more than 20k using your same SSN.
Ok I just realized the family member's ssn I used with the accounts was just shy of 20k. Is it safe if I claim on my taxes and they never do since no 1099ks ebay generated on the accounts under their ssn?
Re: 2020 ebay 20k threshold met because of multiple connected accounts?
Quote:
Originally Posted by thepianoman
Ok I just realized the family member's ssn I used with the accounts was just shy of 20k. Is it safe if I claim on my taxes and they never do since no 1099ks ebay generated on the accounts under their ssn?
If no 1099k is generated, you can simply add any figure you like to your personal taxes as the IRS will have no knowledge of the revenue. It's completely up to you whether to be honest, creative or forgetful about your additional ncome.
Re: 2020 ebay 20k threshold met because of multiple connected accounts?
Quote:
Originally Posted by Steveo036940
If no 1099k is generated, you can simply add any figure you like to your personal taxes as the IRS will have no knowledge of the revenue. It's completely up to you whether to be honest, creative or forgetful about your additional ncome.
not if he is audited,then they will look into his bank accounts
Re: 2020 ebay 20k threshold met because of multiple connected accounts?
Quote:
Originally Posted by thepianoman
Ok I just realized the family member's ssn I used with the accounts was just shy of 20k. Is it safe if I claim on my taxes and they never do since no 1099ks ebay generated on the accounts under their ssn?
Re: 2020 ebay 20k threshold met because of multiple connected accounts?
Quote:
Originally Posted by rsot
Family member is aware of your activity?
Yes but only to the extent that I needed to use it for the account not the extent that they want to be taxed or liable in some way. My goal was always to tax myself but I need separated accounts. Now in 2022 I'm thinking of turning them into LLC accounts but something tells me ebay will ban the moment I try to upgrade to business account.
2020 ebay 20k threshold met because of multiple connected accounts? 
