Anyone who earned more than $5,000 in 2024 selling tickets, musical instruments or other goods and services online should expect to get a 1099-K tax form this month. Online platforms such as StubHub, Etsy and eBay previously only had to send these forms to users who earned more than $20,000 in most cases. The lowered threshold means forms will be sent to millions more taxpayers to make sure they account for the income on their tax returns.
“The IRS wants to get the message out that they’re enforcing it,” said Bryan Skarlatos, a criminal tax lawyer with the Kostelanetz law firm in New York.