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Explaining the 1099-K tax rule for reporting online sales over $600

Bank of America Stadium sees more and more big concerts every year. Luke Combs and Beyoncé this year are just a few examples. But if you bought tickets and resold the tickets you could get a 1099-K form. In this video, VERIFY reporter Meghan Bragg explains how 1099-K tax forms work and how the IRS monitors online sales and transactions over $600. This new tax law had a big impact on people who regularly use cash apps, such as Cash App, Paypal, Zelle and Venmo. #WakeUpCLT #VERIFY #Money THE QUESTION If you sell something for more than $600 online, will you get a 1099-K tax form? THE ANSWER Yes, if you sell something for more than $600 on an e-commerce site, you will get a 1099-K form. WHAT WE FOUND https://www.wcnc.com/article/news/ver... READ MORE: https://www.wcnc.com/article/news/ver...

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