I recently received a 1099K from PayPal for 2021, for transactions of over $20k but my transactions were well under 200. I live in Maryland. I sold items of audio equipment that had been purchased by me previously and I did not sell these items for a profit. I don't see why I would be subject to tax on these items. Can anyone explain?
I also received sales but I don’t have any business i keep telling them it was from a betting site! The fanduel site did not make me a 1099 but paypal did 🤦♀️ It was my money i deposit to fanduel and once i win i transfer it to paypal and then to my bank. And then deposit money again to fanduel and so forth so it is actually a part of my money being transfer which they keep adding! I tried to talk with one of paypal via chat they told me to ask a tax professional for advice! They need to correct my 1099-k! I told them they can call fanduel to confirm it! They just don’t care.
