Reporting to IRS / Tax on Earnings

[krisco1011]

You have to sell over $20,000 AND over 200 transactions, correct? So if I have over 200 transactions but they are small and do NOT come close to $20,000 total then PayPal won't report to the IRS, correct? And this is just invoices/goods & services, right? If I receive money from friends via Friends and Family that does not count toward the $20,000? Thanks!!

[DEMUSS]

I ONLY SOLD 1000 DOLLARS LAST YEAR AND I RECIEVED A 1099K  I AM REALY CONFUSED DO I REPORT IT OR NOT