I'm not a tax accountant, but I don't believe anything related to taxable income has changed. The only thing that changed is that you will receive a 1099 if you sold over $600 at third party sellers.
You were ALWAYS supposed to report gains (revenues less expenses) regardless of whether they were $100 or $100,000. The only thing now is that the IRS "knows" if you sold more than $600.
|