I recieved a 1099-k from paypal, I didn't have 200 transactions or make 20,000 dollars. but they said because I live in Massachusetts. they are require to send one. What do I do with it, Ebay is a hobby not a business. where and how dom I file.
Both Vermont and Massachusetts have a lower threshold which is irrespective of the number of transactions. You may want to contact a tax professional with your concerns. Massachusetts amended the tax law re: 1099-K at the end of 2017. Paypal is now required to issue a 1099-K for any account with a total of $600 or more regardless of the number of transactions, even if it's for only one sale. Vermont also amended the tax law in the same way. Seems other states are expected to follow this path.
