
Minnesotans With A Side Hustle Need to Read This
Something we’ve been doing as a society for many years, but it seems like more than ever the last 20 years or so is giving everything a “label” or a “name”.

I’m talking about everything from when you stop communicating with someone you don’t want to talk to (ghosting) to doing things that have to be done to provide for our families (adulting).
One popular term that applies to a lot of people is “side hustle”, it’s a catchy way of saying you have a second job or an additional way to make extra money.
This could consist of a straight up second job where you go after your first job is over, or you could sell things online on popular platforms like Etsy, Facebook Markets, Ebay etc. And for many people this has been a very easy way to supplement their income and have that money go straight into their bank account without it being reported.
That is until now! If you sold items online last year, you may have to start reporting that money to the IRS. I mean, you’re supposed to already, but now you may not have a choice.
The Wall Street Journal reports if you earned $5000 or more on these platforms you will probably get a 1099-K form from the online outlet you sold through. They keep up with these totals, and to keep themselves out of trouble with the IRS, they will gladly issue you a form.
If you’re saying to yourself, that $5000 is a lot of money and maybe you don’t come close to that number, keep this in mind. The $5000 amount will be cut in half for 2025 sales and in 2026 the amount you can sell online without reporting will be only $600.
Oh yeah, one more thing, even if you don’t get a 1099 form, you are still supposed to report what you make to the IRS.
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Gallery Credit: Aubrey Jane McClaine