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skatthatcat
Community Member
Posts: 1
Registered: ‎06-03-2012
how do i get tax reporting information from ebay and/or paypal?

how do i get information on tax reporting for the irs from e-bay and/or paypal?

Other Answers: 4
englishbabydoll_1950
Community Member
Posts: 3
Registered: ‎12-30-2011
Answered
in reply to skatthatcat

I  need to know how to find out the total monies that I have recieved from EBAY over the last 12 months also how much I have paid in fees on the year from Jan 1st 2013 to Dec 31St.

thank you Janet S. Lawrence

Community Member
Posts: 4,881
Registered: ‎04-10-2012
Answered
in reply to skatthatcat

If you sold over $20,000 worth of items and/or a certain number of items you can find your IRS form 1099 in paypal, otherwise nothing is reported to the IRS by ebay or paypal.

 

Look there, if nothing is there, nothing was reported.

Site Map at bottom of every eBay page can be your best eBay friend!
pi_r_square
Community Member
Posts: 18,695
Registered: ‎02-25-2003
Answered
in reply to skatthatcat

However, you may still owe taxes, even if you do not get a 1099!

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
bobbie354
Community Member
Posts: 1,297
Registered: ‎06-29-2007
Answered
in reply to skatthatcat

For next year Subscribe to Sales Report Plus it's free and very helpful. At 28 feedback your taxes should be pretty easy for this year. bobbie ]:smileyhappy:

 

 

http://pages.ebay.com/help/sell/sales-reports-subscriptions.html