04-23-2024 04:07 PM
If I sell on ebay will the shippng fees and taxes be part of 2024 1099 or just the amount the item sold for ? Thanks
04-23-2024 04:12 PM
Just the item price & shipping if any. Not the taxes.
04-23-2024 04:21 PM
Any shipping the buyer pays you is considered income and will be included on a 1099K.
Sales tax will not be on a 1099K.
04-23-2024 04:24 PM
All revenue.
When I do taxes I have a line item for 'shipping income' under "revenue". Under "deductions" I deduct actual shipping cost.