So today I received an email from PayPal saying my 1099K was available for download and that they would send it also to IRS. I don't recall this being a thing in the past. So basically, I need to pay taxes for any gains I received from selling gear in 2020? Does anyone have experience with reporting their 1099s? Does it mean I pay Federal and State tax on it? I briefly looked at Illinois tax law and says anything gained over 1K needs to be reported.