Selling online and 2022 Taxation information

It’s going to become harder to avoid telling the IRS about income from selling stuff online. Here’s what to know

Published Fri, Mar 26 202110:01 AM EDTUpdated Fri, Mar 26 202110:01 AM EDT

Key Points

Effective next year, sellers on certain online platforms like Etsy and eBay will receive a 1099-K if their sales are at least $600, down from the current threshold of $20,000 with a minimum of 200 transactions.
Not all online sales are taxable, whether you receive tax form or not.
Here’s when and how you should be reporting that income to the IRS.

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