Sales and Income Tax
As a seller on TCGplayer.com, you're responsible for paying all fees and taxes associated with your activity on the marketplace in accordance with our Marketplace Seller Agreement, including compliance with sales tax, income tax and import tax regulations.
In June 2018, the Supreme Court ruled in South Dakota vs. Wayfair that the physical presence rule used previously to determine sales tax nexus is incorrect, opening the door for states to establish nexus requirements beyond physical presence. States have been quick to enact laws to capture sales activity for their states. As a result, you may be required to collect tax if your sales fall above certain state-specific thresholds.
TCGplayer collects and pays sales tax on all transactions in the 46 states that have sales tax. Please note that if you have substantial sales into states we aren’t automatically collecting for, you could still have a responsibility to collect sales tax on these purchases. If you’d like us to collect tax on your behalf for sales within your state, follow the directions below. You’ll be able to see the sales tax we collect in your Sales Summary Report.
Information on Income Tax
Form 1099-K is a document that taxpayers receive to report payments that payers like TCGplayer make to you. It reports the gross amount of all payments within a calendar year. The gross amount includes all income and does not include any adjustments, for example credits, discounts, fees, refunds, or any other adjustable amounts.
For the tax year 2024, you will receive a Form 1099-K if any of the below apply:
- You had more than $5,000 in sales.
- You didn't give us your SSN, ITIN, or EIN and we withheld your payments or your payments were subject to withholding .
- You reside in a State that has a lower reporting threshold than the Federal reporting threshold. Check with your state’s tax or revenue department to confirm the Form 1099-K threshold for your state.
What are the 1099-K regulatory updates?
Under the Notice, third-party settlement organizations like TCGplayer who issue Forms 1099-K are only required to report transactions when the gross payment is more than $5,000 in 2024, more than $2,500 in 2025; and more than $600 in calendar year 2026 and after.
TCGplayer will ask you to update your account(s) by providing a tax ID number if you don't already have one on file.
Federal Regulations require TCGplayer to collect W-9 Tax Information prior to issuing any form of payment to sellers. You will receive a message in your Seller dashboard if you need to fill out the digital W-9 form. Click on the W-9 Tax Form Page link in the prompt to enter your info.
To obtain a US tax identification number, please visit the IRS website for more information regarding Form W-7.
You will receive a message in your Seller dashboard if you need to fill out the digital W-9 form. Click on the W-9 Tax Form Page link in the prompt to enter your info.
For more information on the 1099-K form, please see our FAQ.
Reports
You can use the Reports tab in the Seller Portal to get a report on your sales figures over a particular timeframe. This data is useful for preparing taxes or finding trends in your sales.
Change Log
- 1/22/25 - Updated wording and took out outdated info
- 1/31/23 - Updated threshold for 1099-K for 2022 based on IRS update.
- 6/20/22 - Updated information about contacting the IRS to fill out a W-7 in order to complete the W-9, instead of using a W8-ben.
- 6/10/22 - Updated 1099-K threshold for 2022.
- 4/13/22 - Clarified requirements for 1099-K.