I see one sold item for $560 + shipping. Any items that were sold, but not paid for, or cancelled, are included in the 1099-K. When you file your income tax return, on Schedule C, you would enter the amount for returns/refunds, along with deductions for shipping, boxes and mailers, mileage, etc.
house*of*paws
Mentor2 years agoHi @aquazure
eBay is required to add up everything you sold … including items that may have been cancelled or returned later on.
Why do you think eBay has miscalculated your sales?
aquazure
OP2 years agoBc I only sold one thing this year for less than $600. They must add on unsold items as sold.
rock.star
·2 years agoThe shipping cost are included in that figure.
aquazure
OP2 years agoThanks for the reply.
Turns out its sales taxes that the buyer pays are added to seller sales!
disneyshopper
Mentor2 years agoI see one sold item for $560 + shipping. Any items that were sold, but not paid for, or cancelled, are included in the 1099-K. When you file your income tax return, on Schedule C, you would enter the amount for returns/refunds, along with deductions for shipping, boxes and mailers, mileage, etc.
aquazure
OP2 years agoThanks for the reply.
Turns out its sales taxes that the buyer pays are added to seller sales!
aquazure
OP2 years agoThanks for the reply.
Turns out its sales taxes that the buyer pays are added to seller sales!