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on 01-28-2013 03:12 PM
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 ]
on 01-28-2013 02:33 PM
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.
on 01-28-2013 02:37 PM
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:
and PayPal's info, here:
• 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
on 01-01-2014 12:31 PM
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