I apologize in advance if there is already a thread on this topic, but as the
title states how exactly should I report income from Bricklink sales on my US
federal tax forms for 2022?
I started selling last year and have kept careful records of all my sales income
and expenses. I read that PayPal will not be sending out 1099-K forms for 2022
unless you have over 200 transactions or $20,000 in sales due to the IRS delaying
this requirement for one year. My sales were well below both those thresholds.
If you have reported income like this to the IRS in the past, please let me know
which US tax forms or which lines on the 1099 form I should be using to report
my Bricklink sales income and expenses.
I apologize in advance if there is already a thread on this topic, but as the
title states how exactly should I report income from Bricklink sales on my US
federal tax forms for 2022?
I started selling last year and have kept careful records of all my sales income
and expenses. I read that PayPal will not be sending out 1099-K forms for 2022
unless you have over 200 transactions or $20,000 in sales due to the IRS delaying
this requirement for one year. My sales were well below both those thresholds.
If you have reported income like this to the IRS in the past, please let me know
which US tax forms or which lines on the 1099 form I should be using to report
my Bricklink sales income and expenses.
Thank you in advance for help and advice!
Sole proprietorship income/loss goes on Schedule C of the 1040. Any more than
that - you'll have to ask an accountant.
USA, Wisconsin
