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

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

 



 Please return to your question soon, and click "Accept as Solution" for any helpful answers, from any responder. If you were asked for clarification, please add your comments very quickly -- otherwise the responders may be unable to give further help
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.