I received a 1099-K because of Virginia's lower reporting threshold ....
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I received a 1099-K because of Virginia's lower reporting threshold ... but Virginia is NOT my state of legal residence. I'm an active duty service member stationed in Virginia. My state of legal residence is Florida. I do NOT file Virginia state taxes. Is this income (under $1000) reportable on my federal taxes and if so, why would I have a different reporting requirement than someone who made over $20k and more than 200 sales merely because I live on Virginia? Any ideas?
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I think I found the answer - Virginia has a lower reporting threshold for state tax reporting. Since I am not a legal resident of Virginia and don't file Virginia state taxes, I will not report the earnings on federal taxes because the amount doesn't meet the federal reporting threshold.
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