Many Port Washington residents are receiving a Form 1099-K for the first time due to online sales or payments through platforms such as eBay, Venmo, PayPal, Etsy, or Facebook Marketplace. Even small transactions, hobby sales, or one-time payments can trigger a 1099-K, and the amount reported may need to be included on your tax return.

Receiving a 1099-K does not automatically mean you owe tax on the full amount shown. In many cases, you may be able to reduce taxable income by accounting for the cost of goods sold, shipping expenses, platform fees, refunds, or other related costs. Understanding the difference between personal transactions, hobby income, and business income is essential to avoid incorrect reporting and potential IRS issues.

If you are unsure why you received a 1099-K or how to report it correctly, we can help. Our licensed Enrolled Agents and Certified Public Accountants can explain your options and assist with online seller income, hobby sales, or small business filings to ensure accurate reporting. We work with taxpayers throughout Port Washington and Nassau County.

📍 8 Maple St #11, Port Washington, NY 11050
📞 (516) 336-3316
🌐 GoTaxDude.com