Browse
Category
DiscussionsUncategorized

200 items - US 1099 tax form.

Closed
GotDayum

I'm confused. So the cap is at 200 items per year, and after that we got to fill out a 1099 form? Or do we also have to sell more than $20,000 worth of stuff and sell more than 200 items?

11 years ago*

Comment has been collapsed.

12 Comments
Jfedrigon

Just 200 items

11 years ago
Permalink

Comment has been collapsed.

Deleted

This comment was deleted 1 year ago.

11 years ago
Permalink

Comment has been collapsed.
Lunk

My understanding is that if you're in the US, to go beyond 200 items they have to collect the relevant tax info, and only when you get to both 200+ items and $20,000+ do they actually report it to the IRS. I'm not 100% certain though, as I didn't want to provide my SSN. Only a couple weeks until my limit resets and I can start selling again. :P

11 years ago
Permalink

Comment has been collapsed.
GotDayum

I think I am right at the 190-ish range (not sure), because Steam hasn't updated and told me if I hit 200 yet. And to make matters worse, I am trying to capitalize on selling cards because all of them have gone up in price for the most part and are selling fasr. First world problems.

I hope I don't need to fill anything out.

11 years ago
Permalink

Comment has been collapsed.
Lunk

There should be a warning at the top of the market's main page if you're over 150 that says: "You have created (insert number) listings this year. Before you can sell or list more than 200 items in a calendar year, we are required to collect certain information from you. Please click here to provide the necessary information. To find out more about this requirement, please visit the FAQ."

11 years ago
Permalink

Comment has been collapsed.
GotDayum

Yea, that's what I am looking at. I know I have sold at least 5-6 things today and the amount hasn't changed I think (not sure what it was at before but I know it should be more). I haven't been paying attention to it as much as I should. All well. Thx.

11 years ago
Permalink

Comment has been collapsed.
Lunk

The number actually updates when you put something up for sale, not when it sells, so that might explain it? If you had 175 yesterday and put up 5 items, it would jump to 180 items listed, and still say 180 after the items sold.

Then again, Steam could just be being buggy. Certainly wouldn't be the first time!

11 years ago
Permalink

Comment has been collapsed.
SomebodyNowhere

When you reach 200 transactions you need to give your tax info and IF you surpass the amount earned to require it they'll send you the required information to declare your steam market earnings on your taxes.

11 years ago
Permalink

Comment has been collapsed.
krisbristol40

lolz

11 years ago
Permalink

Comment has been collapsed.
AnarkyAndKaos

If it's anything like doing self employed work for another company then that company once you hit the magic number of 600.00 they have to submit a 1099 form to the IRS in order to properly claim the expenditures to you where an expense.

11 years ago
Permalink

Comment has been collapsed.
AtomicWoodchuck

It's a U$A thang...

200 x $0.03 crates, and you're playing with the big boys, I'm afraid :)

11 years ago
Permalink

Comment has been collapsed.
BotheredMe

You don't pay taxes unless you make over $2000 a year off of the Steam Market if I remember correctly.

11 years ago
Permalink

Comment has been collapsed.

Closed 11 years ago by GotDayum.