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2011 tax year?

2011 tax year?# ebiz - 电子商务

w*a2010-10-18 07:10

1 楼

"The Fiscal Times" reported that starting in the 2011 tax year "taxpayers
who annually sell more than $20,000 worth of goods and have more than 200
electronic transactions will receive a new IRS form, known as a 1099-K,
reporting the profits."
what is 'tax year'?
The tax year you are preparing taxes for is usually the year prior to the
year taxes are filed. For example, taxes prepared in March of 2007 would be
for tax year 2006.

w*a2010-10-18 07:10

2 楼

another reply.
So I am breathing easier since I have a year to list all my personal stuff.
I doubt I hit the $20K mark but it is nice to know the details of where
Paypal is heading.
You have as many years as you want. The 2011 report will be based on the
2010 sales.
As I said before, garage sellers, getting rid of old stuff that was
purchased new and is now used, do not make a profit. They don't have to pay
taxes on the income. They do have to prove they didn't make a profit if they
are audited.
You really don't have to be concerned.

d*f2010-10-18 07:10

3 楼

你不读paypal t&c的么
PayPal is modifying its User Agreement due to new IRS reporting requirements
. The following verbiage has been added to Section 4.7 (Taxes):
"You acknowledge that in starting in 2011, PayPal will report to the
Internal Revenue Service the total amount of the payments you receive each
calendar year into all the Accounts you own if you(i) receive more than $20,
000, and (ii) receive more than 200 payments, in that calendar year."

.
pay
they

【在 w******a 的大作中提到】

: another reply.
: So I am breathing easier since I have a year to list all my personal stuff.
: I doubt I hit the $20K mark but it is nice to know the details of where
: Paypal is heading.
: You have as many years as you want. The 2011 report will be based on the
: 2010 sales.
: As I said before, garage sellers, getting rid of old stuff that was
: purchased new and is now used, do not make a profit. They don't have to pay
: taxes on the income. They do have to prove they didn't make a profit if they
: are audited.