1099-K
Hey all. Wondering if there is any info out there about how Swappa sales will be reported this year. eBay is now required to offer 1099-K to people who took in over $600 or more. Does Swappa do the same? Do they leave it up to Paypal? Anybody know?
I feel like the taxes were paid this year, given the large chunk of fees that gets deducted from sellers this year. Would be happy to hear from anyone else.
Hey All,
PayPal, and Stripe, handle 1099-K forms, not Swappa. The $600 threshold was delayed: https://www.paypal.com/us/cshelp/article/will-paypal-report-my-sales-to-the-irs-help543
https://apnews.com/article/irs-venmo-cash-app-treasury-tax-72a78a734967ff49787e209b2e3ca006
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