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lonestar-fossils
Community Member
Posts: 2
Registered: ‎11-07-2012
Will Ebay automatically send me a 1099 tax statement?

I have not recieved a 1099 tax statement from Ebay, Do I need to request one? Or will it automatically be sent out to all sellers?

Other Answers: 2
pi_r_square
Community Member
Posts: 18,695
Registered: ‎02-25-2003
Answered
in reply to lonestar-fossils

eBay does not send 1099s

 

See your local IRS office for information.

 

While thinking about that, read this:

http://www.irs.gov/businesses/small/industries/article/0,,id=163622,00.html

 

and this:

http://www.irs.gov/businesses/small/industries/article/0,,id=202941,00.html

 

and this:

http://www.irs.gov/businesses/small/industries/article/0,,id=202939,00.html 

 

and this:

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Tax-Tips-for-Online-Auction-Sellers

 

and PayPal's info, here:

https://cms.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&content_ID=marketing_us%2FIRS6050...

 

 

•  If your activity is a HOBBY, report your income on line 21, Form 1040. You can´t deduct expenses in excess of your income, and you can only deduct qualifying expenses if you itemize deductions

 

•  If you consider your sales on eBay as a BUSINESS, you must fill out the IRS 1040, Schedule C, at a minimum.  You may deduct expenses.

 

•  If you are selling junk from around the house, those casual sales are usually not taxable.

 

•  If you are buying things for resale on eBay, you are a business, and your income from the business is taxable.

 

The IRS says:

"Generally, an activity qualifies as a business if it is carried on with the reasonable expectation of earning a profit."

 

 

 

 

If you want to see your history of sales, as shown on PayPal, try

https://history.paypal.com/us/cgi-bin/webscr?cmd=_history

 



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october_paws
Community Member
Posts: 2,504
Registered: ‎06-21-2007
Answered
in reply to lonestar-fossils

eBay does not but PayPal will when you reach to xxxx$$.Paypal collect the payment from buyer it's like Paypal is another institution like any others. Just runs the business differently.