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Why does Ebay's 1099 not reflect the actual amount ebay deposited into my bank account
How can eBay send out a 1099 that doesn't show the actual amount they deposited into your account
2 comments
rock.star
·3 years agoBecause what is deposited into your bank account is what is left over after fees and postage taken out. The 1099k show all monies paid to you by the buyers .
dragonsgoforit
OP3 years agoThe buyer is not my "client", eBay is. If I have to pay taxes on the amount of money actually paid to me then it is not fair for eBay to say I earned more than they paid me. It's not worth selling on eBay unless you are a business and can deduct your expenses. Shipping has gotten so high that there are lots of time the shipping costs more than the item sold. If I can't deduct that and the fees from the amount eBay shows on the 1099 then I'm paying taxes on almost twice the amount of money I actually got paid from eBay. Seems to me that the 1099 should show what actually went in to my bank account since I never collected any money from a buyer, only eBay.