I'm selling pottery that I've collected over 40 years, have hundreds of valuable pieces. I did not open an Ebay store and am not a merchant. Once my pottery is sold, I will not be selling on Ebay any more. That said, I read where Paypal will report me to the IRS if I reach BOTH $20,000 and 200 transactions with a 1099 form. I am not close to the $20,000 mark, but I am at 170 transactions. Tried to ask Paypal, and the Paypal rep says the reporting threshold is $20,000 and 150 transactions, and I'm over the 150 and will be reported. However, the Paypal website still says it's $20k and 200 transactions. Which is it? I've put a hold on my sales for the month of Dec. so I don't go over 200 and will begin selling again in 2021 to avoid threshold. Can someone in the community please tell me which is the correct IRS tax reporting threshold: 150 transactions or is it 200? Thank you.
