Tax Documents

Question

I sold items in November, but eBay decided to hold my money and finally paid me in January 2025. Now they have sent me a 1099 for 2024 when I didn't get the money until 2025. Do you think they will update it? Don't know why I would pay taxes on money I never received in 2024. I am more than happy to pay in 2025.

wooden_flower · Accepted Answer

@shben_7733

eBay must follow the IRS guidelines.

Form 1099-K is an IRS information return that includes the gross amount of all reportable payments within a calendar year. This is based on when gross funds are processed to eBay, not necessarily when funds are received by sellers.

https://www.ebay.com/help/selling/fees-credits-invoices/ebay-form-1099k?id=4794&st=3&pos=1&query=eBay%20and%20Form%201099-K&intent=1099k&lucenceai=lucenceai&docId=HELP1463

shben_7733 · Answer

Thanks everyone. Seems silly to pay tax on income that I did not receive in 2024. Rules are Rules though.

lady_madonna · Answer

@shben_7733 The amount shown on the 1099K includes buyer payments for the calendar year, not date of your Ebay payout.