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1099
When ebay says they will send you a 1099 if you sell over $600 worth of items - does that include all the shipping fees and ebay fees? Like if I sell an item for $1.00 and shipping is $6, and tax is .50 - and the buyer papys $7.50 - what portion goes towards the $600?
2 comments
evry1nositswindy
Mentor2 years agoYes, eBay sends you a gross total. Filing a Schedule C allows you for deductions to figure your net.
disneyshopper
Mentor2 years agoThe 1099 consists of the total payment that you receive, which would be the item price + shipping. You file a Schedule C for your deductions: shipping costs, packaging costs, FVF. storage unit, gas to/from post office, etc.