What ebay puts on a 1099
I am a yard sale kind of seller but close to the $600 threshold that my state has for 1099s. Is there a way I can generate a report from my ebay account that would be the same as Ebay would report. If more than one report is needed please advice. Thanks.
8 comments
turn4419
OP2 years agoThanks these replies are all very helpful. I know that I can show a loss on my tax form if I do get a 1099 but since most of the things I am trying to get rid of now are books that are not selling or have any watches associated with them I can relist next year. I am now according to that number to the left of the financial report summary at $609 but I have a shipping refund to come in of $12 so should be under the $600. It is so annoying that the 1099 number has no relationship to your earnings but I understand it is how the IRS wants it done.
slippinjimmy
·2 years agoAs I mentioned, the 1099 reports Gross Revenue, they are NOT adjusted for returns/refunds, if you have a Gross of $609 at this point you WILL receive a 1099 unless the IRS once again delays the implementation of the lower threshold as they did in 2023 (this may not be known until near the end of the year).
https://www.ebay.com/help/selling/fees-credits-invoices/ebay-form-1099k?id=4794
nobody*s_perfect
·2 years agoOP mentioned that they live in a state that already has a $600 threshold.
slippinjimmy
·2 years agoMissed that part, went by the Item Location on their listings which is Washington DC. Likely they actually reside in Maryland or Virginia who already have the lower threshold.
nobody*s_perfect
·2 years agoThe 1099-K is based on the total payments you received for the item price and for shipping and handling, before any deductions such as when you issue a refund to a buyer.
stephenmorgan
·2 years agoYou can review or print out the Order Details for each Order (Sale) you had, and this will include all the amounts you received that will be used to put on your 1099's.
You can access these from today back through last year.
You could also download a Transaction Report up to a year, but it is large and can be confusing.
It has the following information
order, refund, claim, payment dispute, shipping label, charge, transfer, hold, other fee, adjustment, purchase, payout, secondary payout, withheld tax, reserve
slippinjimmy
·2 years agoThe ultimate report is a full Transaction Report, you would need to download it, load it into a spreadsheet program (Excel or a free alternative) and then "massage" to get the information and totals that you need.
https://www.ebay.com/help/selling/fees-credits-invoices/reconciling-ebay-sales-transactions?id=4847#section2
Personally I would never use any of eBay's summary reports for tax purposes not would I ever try to match up my numbers to what eBay shows on a 1099K. For example, a 1099 will not reflect any refunds you may have made.
eBay has a new "earnings" report (not sure if it's available just yet), while I haven't seen it yet I doubt that it's accurate enough for tax reporting purposes.
monica-sells
·2 years agoProbably the closest number would be here:
https://www.ebay.com/sh/fin/reportslanding
set the time period for this year....the total number is to the left (before deductions processed through ebay)
don't know why the threshhold would be an issue....if you are passing up sales for what would probably be zero tax liability, that makes no sense