For years I've sold odds and ends as an individual on ebay using paypal and never exceeded (never got anywhere near) the $20,000 AND 200 transaction threashold. In 2020 I was even lower than other years with less than $4000 received through paypal and by the time one factors in shipping cost and ebay fees, that amount goes down to near $2000 (not even kidding) so why do I have a 1099 now that says it has been reported to the IRS? Why does it still say Paypal only reports if over $20,000 AND 200 transactions when neither are the case for me? From how this looks, Its as if I have to pay full taxes on the reported income and never mind the ebay fees and shipping cost that ultimately are removed from that.
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