[Pollard]

The rule does not apply to noncommercial payments like reimbursing someone for food or rent or other one-off transactions such as selling an old piece of furniture, according to accountants.

Before this year, the threshold for filing a Form 1099-K report was at least 200 transactions totaling an aggregate of at least $20,000.

When Congress passed the American Rescue Plan Act of 2021, it included a provision that reduced the reporting threshold to a single transaction over $600.

Ebay made me give them my SS number because I sold over $600 but not as a single transaction. It was used odds and ends(one-off transactions) that totaled up to over $600. My paypal account is a business account and has been for years. Might be the difference.

[Not_Who_U_Think]

Gentlemen, your choices are to pay standard income taxes on these amounts, or to wait until one of those new, shiny IRS agents wants to meet you. At that point, you can explain why you think this doesn’t apply.

Let’s be real. Are you going to risk having your finances fully examined when the taxman wants an additional $100 or two?