Question about 1099-K

[winterpalace25]

Does the 1099K figure reflect your sale prices, including shipping, or is it the money they paid out to us after they kept their fees?

In other words, is it the total of the money that the payment processor deposited into our bank account, or is it the total of the money they collected from our buyers?

[powell-memorabilia]

It is the total of the item + shipping.  They don’t count sales tax.

[bbravo65 · Accepted solution]

...the total sales included shipping cost and all the fees but no sales tax...

...when filing income tax, subtract what you paid for shipping costs and all the fees under business expenses...(there are more to write-off as business expenses...consult your tax advisor for better results...)

[luckythewinner]

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@winterpalace25 wrote:

Does the 1099K figure reflect your sale prices, including shipping, or is it the money they paid out to us after they kept their fees?

In other words, is it the total of the money that the payment processor deposited into our bank account, or is it the total of the money they collected from our buyers?

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If you use the "Help & contact" link at the top of any page on the eBay site to search for "1099", you will find this very helpful page that explains the 1099-K in great detail: 

eBay and Form 1099-K

https://www.ebay.com/help/selling/fees-credits-invoices/ebay-form-1099k?id=4794

[winterpalace25]

Thank you.