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2023. $600 sales.
eBay has said I sold $600. My total in sales is only $376.00.
What is included in the $600 total?
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Discussions in this board are limited to the original poster and Community Mentors
eBay has said I sold $600. My total in sales is only $376.00.
What is included in the $600 total?
shipscript
·2 years agoThe 1099K will include the item price and shipping, but not sales tax. Any costs of the sale will not be deducted. When sales cross a calendar year, eBay will use the buyer payment date to determine which year the sale will be reported— so pay attention to transactions that cross a year-end. Additionally, eBay must report the money received by eBay on behalf of the seller, regardless of whether the seller later refunds the buyer. Thus, the $600 limit can be reached, even if the seller does not see fruition of $600 in sales. It will be up to the seller to deduct the costs of the sale, and any refunds, on the tax return.