gman1971 Posted January 12, 2022 Report Share Posted January 12, 2022 The COVID 19, 1.9 trillion dollar package that passed last year made a change to the tax code to "pay for it" (LOL) That change went into effect at the beginning of this year, Jan 1-2022, and that change is that anyone who uses Paypal, eBay, etc, will have a 1099 created and sent to the IRS automatically if they sell over $600.00 in a year (regardless of how many transactions). Prior amount was $20,000.00 in a year and 200 transactions. Anyhow, those sites, Paypal, eBay, etc, will be asking for your social security number and other potentially sensitive information... so if you are worried about privacy and your SSN leaking out, etc, this might be a serious concern. I think things like Paypal "Friends and Family" etc, are supposed to be excluded, but who knows... DISCLAIMER: You have to declare to the IRS every dollar you earn as income... and all I am doing here is reminding people of what happened, for their consideration. Anyhow, I've already noticed a sharp drop in 2nd hand radio equipment on eBay, in just this two past weeks..... so if you had plans on starting that XPR7550e collection from eBay... you might be too late... Cheers. G. Radioguy7268 1 Quote Link to comment Share on other sites More sharing options...
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