{ "batch": "1069-reselling-and-flipping-paperwork-and-taxes", "articles": [ { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_form1099k_reporting_threshold", "category": "Business", "title": "IRS Form 1099-K reporting threshold for reselling and flipping platforms", "summary": "Third party settlement organizations (TPSOs) including payment apps and online marketplaces are required to report payments on Form 1099-K when the total amount of payments received for goods or services through the platform exceeds $20,000 in more than 200 transactions.", "body": "Third party settlement organizations (TPSOs) including payment apps and online marketplaces are required to report payments on Form 1099-K when the total amount of payments received for goods or services through the platform exceeds $20,000 in more than 200 transactions.\n\nWhat Internal Revenue Service actually says:\n\n“Third party settlement organizations (TPSOs) (payment apps and online marketplaces) are required to report payments on Form 1099-K when the total amount of payments you receive for goods or services through the platform exceeds $20,000 in more than 200 transactions.”\n\nNote: Volatility medium because the threshold was previously $2,000/50 and the $600 threshold under Section 6050W was suspended for 2025-2026 by statute; current page states the $20,000/200 test.", "source_type": "official", "source_link": "https://www.irs.gov/1099k", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "Third party settlement organizations (TPSOs) (payment apps and online marketplaces) are required to report payments on Form 1099-K when the total amount of payments you receive for goods or services through the platform exceeds $20,000 in more than 200 transactions.", "volatility": "medium", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS Form 1099-K reporting requirements for third party network platforms", "topic": "IRS Form 1099-K reporting threshold for reselling and flipping platforms", "applies_to_country": "Us", "applies_to_scope": "Applies to U.S. third party settlement organizations reporting to the IRS", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.pricing", "money.tax" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_form1099k_deadline", "category": "Business", "title": "Deadline by which platforms must send Form 1099-K to sellers", "summary": "Payment card companies, payment apps and online marketplaces must send a copy of Form 1099-K to the payee by January 31 each year.", "body": "Payment card companies, payment apps and online marketplaces must send a copy of Form 1099-K to the payee by January 31 each year.\n\nWhat Internal Revenue Service actually says:\n\n“Payment card companies, payment apps and online marketplaces are required to fill out Form 1099-K and send it to the IRS each year. They must also send a copy to you by January 31.”", "source_type": "official", "source_link": "https://www.irs.gov/1099k", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "Payment card companies, payment apps and online marketplaces are required to fill out Form 1099-K and send it to the IRS each year. They must also send a copy to you by January 31.", "volatility": "low", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS Form 1099-K furnishing deadline", "topic": "Deadline by which platforms must send Form 1099-K to sellers", "applies_to_country": "Us", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_form1099k_below_threshold", "category": "Business", "title": "Whether platforms may send Form 1099-K below the reporting threshold and whether income below threshold is taxable", "summary": "A platform may send a Form 1099-K with lower amounts and fewer than 200 transactions, and no matter the amount of reported payments, a seller who receives payments for selling goods or services must report all income on their tax return even if no Form 1099-K is received.", "body": "A platform may send a Form 1099-K with lower amounts and fewer than 200 transactions, and no matter the amount of reported payments, a seller who receives payments for selling goods or services must report all income on their tax return even if no Form 1099-K is received.\n\nWhat Internal Revenue Service actually says:\n\n“You may receive a Form 1099-K even when total payments or transactions are less than the reporting threshold. No matter the amount of reported payments, if you receive payments for selling goods or services, you must report all income on your tax return.”", "source_type": "official", "source_link": "https://www.irs.gov/1099k", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "You may receive a Form 1099-K even when total payments or transactions are less than the reporting threshold. No matter the amount of reported payments, if you receive payments for selling goods or services, you must report all income on your tax return.", "volatility": "low", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS Form 1099-K below-threshold furnishing", "topic": "Whether platforms may send Form 1099-K below the reporting threshold and whether income below threshold is taxable", "applies_to_country": "Us", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_form1099k_income_type", "category": "Business", "title": "What type of income a TPSO reports on Form 1099-K for reselling and flipping activity", "summary": "Form 1099-K reports payments received for goods or services from credit, debit or stored value cards and from payment apps or online marketplaces (third party settlement organizations), which covers payments for goods sold on reselling and flipping platforms.", "body": "Form 1099-K reports payments received for goods or services from credit, debit or stored value cards and from payment apps or online marketplaces (third party settlement organizations), which covers payments for goods sold on reselling and flipping platforms.\n\nWhat Internal Revenue Service actually says:\n\n“Form 1099-K is a report of payments you received for goods or services during the year from: Credit, debit or stored value cards such as gift cards (payment cards) Payment apps or online marketplaces, also called third party settlement organizations or TPSOs”", "source_type": "official", "source_link": "https://www.irs.gov/1099k", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "Form 1099-K is a report of payments you received for goods or services during the year from: Credit, debit or stored value cards such as gift cards (payment cards) Payment apps or online marketplaces, also called third party settlement organizations or TPSOs", "volatility": "low", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS Form 1099-K income types", "topic": "What type of income a TPSO reports on Form 1099-K for reselling and flipping activity", "applies_to_country": "Us", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax", "money.fees" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_form1099k_platforms_covered", "category": "Business", "title": "Which platform types qualify as TPSOs subject to 1099-K reporting, including reselling platforms", "summary": "The Form 1099-K requirement applies to payment apps, online community marketplaces, craft or maker marketplaces, auction sites, ticket exchange or resale sites and freelance marketplaces.", "body": "The Form 1099-K requirement applies to payment apps, online community marketplaces, craft or maker marketplaces, auction sites, ticket exchange or resale sites and freelance marketplaces.\n\nWhat Internal Revenue Service actually says:\n\n“The payments can be made through any: Payment app Online community marketplace Craft or maker marketplace Auction site Car sharing or ride-hailing platform Ticket exchange or resale site Crowdfunding platform Freelance marketplace”", "source_type": "official", "source_link": "https://www.irs.gov/1099k", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "The payments can be made through any: Payment app Online community marketplace Craft or maker marketplace Auction site Car sharing or ride-hailing platform Ticket exchange or resale site Crowdfunding platform Freelance marketplace", "volatility": "low", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS Form 1099-K platform coverage", "topic": "Which platform types qualify as TPSOs subject to 1099-K reporting, including reselling platforms", "applies_to_country": "Us", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_form1099k_personal_payments", "category": "Business", "title": "Personal payments excluded from 1099-K reporting for resellers", "summary": "Money received from friends and family as a gift or repayment for a personal expense should not be reported on a Form 1099-K and these payments are not taxable income.", "body": "Money received from friends and family as a gift or repayment for a personal expense should not be reported on a Form 1099-K and these payments are not taxable income.\n\nWhat Internal Revenue Service actually says:\n\n“Money you received from friends and family as a gift or repayment for a personal expense should not be reported on a Form 1099-K. These payments aren't taxable income.”", "source_type": "official", "source_link": "https://www.irs.gov/1099k", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "Money you received from friends and family as a gift or repayment for a personal expense should not be reported on a Form 1099-K. These payments aren't taxable income.", "volatility": "low", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS Form 1099-K exclusion of personal payments", "topic": "Personal payments excluded from 1099-K reporting for resellers", "applies_to_country": "Us", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_1099k_instructions_gross_amount", "category": "Business", "title": "IRS Form 1099-K instructions: How the gross amount reported in box 1a is calculated by the platform", "summary": "Box 1a of Form 1099-K reports the gross amount of total reportable payment card and third party network transactions for the calendar year without regard to adjustments for credits, cash equivalents, discount amounts, fees, refunded amounts, shipping amounts or any other amounts.", "body": "Box 1a of Form 1099-K reports the gross amount of total reportable payment card and third party network transactions for the calendar year without regard to adjustments for credits, cash equivalents, discount amounts, fees, refunded amounts, shipping amounts or any other amounts.\n\nWhat Internal Revenue Service actually says:\n\n“\"Gross amount\" means the total dollar amount of total reportable payment transactions for each participating payee without regard to any adjustments for credits, cash equivalents, discount amounts, fees, refunded amounts, shipping amounts, or any other amounts. The dollar amount of each transaction is determined on the date of the transaction.”", "source_type": "official", "source_link": "https://www.irs.gov/instructions/i1099k", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "\"Gross amount\" means the total dollar amount of total reportable payment transactions for each participating payee without regard to any adjustments for credits, cash equivalents, discount amounts, fees, refunded amounts, shipping amounts, or any other amounts. The dollar amount of each transaction is determined on the date of the transaction.", "volatility": "low", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS Form 1099-K instructions", "topic": "How the gross amount reported in box 1a is calculated by the platform", "applies_to_country": "Us", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax", "money.fees" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_1099k_instructions_de_minimis", "category": "Business", "title": "IRS Form 1099-K instructions: De minimis exception threshold for TPSO reporting of third party network transactions", "summary": "Under the current 1099-K instructions, a TPSO is required to report third party network transactions only if the gross amount of total reportable payment transactions exceeds $20,000 and the total number of such transactions exceeds 200 for the calendar year.", "body": "Under the current 1099-K instructions, a TPSO is required to report third party network transactions only if the gross amount of total reportable payment transactions exceeds $20,000 and the total number of such transactions exceeds 200 for the calendar year.\n\nWhat Internal Revenue Service actually says:\n\n“A TPSO is required to report any information concerning third party network transactions of any participating payee only if for the calendar year: The gross amount of total reportable payment transactions exceeds $20,000, and The total number of such transactions exceeds 200.”\n\nNote: The 1099-K instructions are dated 12/2026 and the What's New section states the reporting requirement for these transactions has changed.", "source_type": "official", "source_link": "https://www.irs.gov/instructions/i1099k", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "A TPSO is required to report any information concerning third party network transactions of any participating payee only if for the calendar year: The gross amount of total reportable payment transactions exceeds $20,000, and The total number of such transactions exceeds 200.", "volatility": "medium", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS Form 1099-K instructions", "topic": "De minimis exception threshold for TPSO reporting of third party network transactions", "applies_to_country": "Us", "applies_to_scope": "Revised 12/2026 instructions", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_business_income_schedule_se", "category": "Business", "title": "Self-employment tax filing requirement that applies to reselling and flipping income", "summary": "A sole proprietor files Schedule C (Form 1040) to report business income and expenses, and a sole proprietor who has net earnings from Schedule C of $400 or more must file Schedule SE (Form 1040) to figure self-employment tax.", "body": "A sole proprietor files Schedule C (Form 1040) to report business income and expenses, and a sole proprietor who has net earnings from Schedule C of $400 or more must file Schedule SE (Form 1040) to figure self-employment tax.\n\nWhat Internal Revenue Service actually says:\n\n“A sole proprietor files Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship) to report the income and expenses of the business and reports the net business earnings on Form 1040 series. A sole proprietor who has net earnings from Schedule C of $400 or more must file Schedule SE (Form 1040), Self-Employment Tax.”", "source_type": "official", "source_link": "https://www.irs.gov/taxtopics/tc407", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "A sole proprietor files Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship) to report the income and expenses of the business and reports the net business earnings on Form 1040 series. A sole proprietor who has net earnings from Schedule C of $400 or more must file Schedule SE (Form 1040), Self-Employment Tax.", "volatility": "low", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS business income rules for sole proprietors", "topic": "Self-employment tax filing requirement that applies to reselling and flipping income", "applies_to_country": "Us", "applies_to_scope": "Applies to individuals reselling goods as a sole proprietorship", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_business_income_definition", "category": "Business", "title": "IRS classification of income from selling products as business income for resellers", "summary": "Business income may include income received from the sale of products or services, and a business must include in income payments received in the form of property or services at the fair market value of the property or services.", "body": "Business income may include income received from the sale of products or services, and a business must include in income payments received in the form of property or services at the fair market value of the property or services.\n\nWhat Internal Revenue Service actually says:\n\n“Business income may include income received from the sale of products or services. For example, fees received by a person from the regular practice of a profession are business income. Rents received by a person in the real estate business are business income. A business must include in income payments received in the form of property or services at the fair market value of the property or services.”", "source_type": "official", "source_link": "https://www.irs.gov/taxtopics/tc407", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "Business income may include income received from the sale of products or services. For example, fees received by a person from the regular practice of a profession are business income. Rents received by a person in the real estate business are business income. A business must include in income payments received in the form of property or services at the fair market value of the property or services.", "volatility": "low", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS business income definition", "topic": "IRS classification of income from selling products as business income for resellers", "applies_to_country": "Us", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_small_business_center_audience", "category": "Business", "title": "Audience and scope of IRS self-employment guidance page that resellers use", "summary": "The IRS small business and self-employed tax center provides resources for taxpayers who file Form 1040 or 1040-SR, Schedules C, E, F or Form 2106, as well as small businesses with assets under $10 million.", "body": "The IRS small business and self-employed tax center provides resources for taxpayers who file Form 1040 or 1040-SR, Schedules C, E, F or Form 2106, as well as small businesses with assets under $10 million.\n\nWhat Internal Revenue Service actually says:\n\n“Resources for taxpayers who file Form 1040 or 1040-SR, Schedules C, E, F or Form 2106, as well as small businesses with assets under $10 million.”", "source_type": "official", "source_link": "https://www.irs.gov/businesses/small-businesses-self-employed", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "Resources for taxpayers who file Form 1040 or 1040-SR, Schedules C, E, F or Form 2106, as well as small businesses with assets under $10 million.", "volatility": "low", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS small business and self-employed tax center", "topic": "Audience and scope of IRS self-employment guidance page that resellers use", "applies_to_country": "Us", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax" ], "explicitness": "any" } }, { "id": "learn_r1069_reselling_and_flipping_paperwork_and_taxes_irs_capital_gains_personal_use", "category": "Business", "title": "Tax treatment of gains and losses on personal-use property sold by casual resellers", "summary": "Losses from the sale of personal-use property, such as a home or car, are not tax deductible, and a capital gain arises when a capital asset is sold for more than its adjusted basis.", "body": "Losses from the sale of personal-use property, such as a home or car, are not tax deductible, and a capital gain arises when a capital asset is sold for more than its adjusted basis.\n\nWhat Internal Revenue Service actually says:\n\n“You have a capital gain if you sell the asset for more than your adjusted basis. You have a capital loss if you sell the asset for less than your adjusted basis. Losses from the sale of personal-use property, such as your home or car, aren't tax deductible.”", "source_type": "official", "source_link": "https://www.irs.gov/taxtopics/tc409", "last_verified": "2026-10-01", "reliability": "STRONG PRACTICE", "source_tier": "A", "source_publisher": "Internal Revenue Service", "evidence_quote": "You have a capital gain if you sell the asset for more than your adjusted basis. You have a capital loss if you sell the asset for less than your adjusted basis. Losses from the sale of personal-use property, such as your home or car, aren't tax deductible.", "volatility": "low", "from_batch": "1069-reselling-and-flipping-paperwork-and-taxes", "subject": "IRS capital gains rules", "topic": "Tax treatment of gains and losses on personal-use property sold by casual resellers", "applies_to_country": "Us", "applies_to_scope": "Relevant where a reseller sells personal items at a loss", "tags": { "lane": "any", "stage": "running", "region": [ "us" ], "platform": "any", "topic": [ "money.tax" ], "explicitness": "any" } } ] }