Locked
Discussions in this board are limited to the original poster and Community Mentors
what happens when buyer cancels an order
I had a buyer win an iphone 11 but bid $2,250 (possibly by accident) so he cancelled the transaction. On my 90 day total for earnings, it still has the $2,250 listed. How do I get rid of this? The last thing I want is to be taxed for this at the end of the year. Thank you kindly for any input that you have!
2 comments
woodland_gnome
·3 years agoeBay considers an auction ending with a winner (or an accepted offer or buyer committing to Buy It Now where immediate payment is not required) a "sale" regardless of what happens after that (e.g. non-payment) for internal use.
eBay only reports actual money received to the IRS. I'm not sure about money received by eBay but on hold as of midnight 12/31 or hold money refunded to the buyer from the hold.
colus_ig7vrfcf9
OP3 years agoThank you so much! That definitely answered my question!