re: The IRS is coming for your Venmo income

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4. If I receive a 1099-K, does this include sales of stuff of mine I don’t want anymore?
Your 1099-K will show all of the payments you received for sales of goods and services on Venmo, including refunds.

It’s worth noting; however, that any amounts generally excluded from gross income are not subject to income tax. This can include amounts from selling personal items at a loss, gifts, and more. For example, if you bought an item for $800 and later sold it on Venmo for $700, this amount would not be subject to income tax.

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