Taxes: Return label cost
Anyone knows where is the return label cost for 2023? I downloaded reports but they are not there and label tab doesn’t go past 3 month.
also another question : does the gross sales receipts from 1099k ( which is the total of money Ebay processed) include buyer paid sales taxes?
7 comments
stainlessenginecovers
·2 years agoor an easier way:
Return shipping is in the FEES charged; so you don't need to 'list it' as a Shipping Cost.
wastingtime101
·2 years ago@partfinds @rfmtm On this page: https://www.ebay.com/sh/fin/report
Change the filter from Transaction types (all) to Shipping label, and change the date range to 2023. Generate and download the report and open in Excel (or Numbers on Mac). The report will pull in all shipping labels paid for with eBay Funds. The last column of the report will say Description and you can filter the Description column to show only line items that say Return Shipping Label to filter out your return labels from all your regular outbound labels.
Rundown on eBay 1099-Ks (sales tax is not included):
https://www.ebay.com/help/selling/fees-credits-invoices/ebay-form-1099k?id=4794
You can go to this page and generate a CSV report and you'll see what's counted on your 1099-K at the transaction level. https://www.ebay.com/sh/fin/taxdetails
"Your 1099-K Details report shows all the orders that factored into your gross amount of payments. The report also provides other details, such as transaction fees, which may be relevant when preparing your taxes."
There's a guide published here where you can further drill down and get reports for expenses and refunds: https://www.ebay.com/mes/taxguide?sh=true
partfinds
OP2 years agoThat works . Thank you.
caldreamer
·2 years ago1099 includes "gross sales" (purchase price + shipping income). EBAY has "easy to read" 1-page report that shows QTD totals for (orders, refunds, EBAY fees, shipping expense (money paid for labels). I would assume that cost of "return label" is included in shipping expense shown on this report.
Go to Payments, Reports, REPORTS (NEW) and select LAST YEAR.
farmalljr
·2 years agoYou can track your sales tax collected by eBay by running a monthly sales report. Sales tax collected will be on that report.
As noted sales tax is not on the 1099.
Also as noted, there is no separation of labels you paid for. You need to note that yourself. All labels are in one line item with eBay. If you need a print out of those labels, you would need to print off the transaction one by one for return labels, as eBay charges you for them. It should make no difference for tax purposes what they label was for, but if you want it for your own accounting, you will need to track it manually.
goodbrakes
·2 years agoeBay does not seperate "Ship To" cost and "Return Shipping" cost. All under one expence "Shipping Cost".
rfmtm
·2 years agoSales Tax ebay collected and remitted is not included in the 1099K.
I haven't had to do any returns, so can't verify where the return label cost is charged. Hopefully someone else will be along to help with that.
@wastingtime101 Can you help here?