First 1099K and Questions

[abitofthisnthat]

I received my first 1099K from eBay and curious why the listed numbers

do not match what was on the monthly statements, where do these numbers come from?

1099K Monthly Numbers;

Monthly Statement Numbers;

This is how different each month is and I see no rhyme or reason to it;

Thanks, Bill

[golfingaddict]

Do you see the line that states

- taxes and fees?

The 1099-K is reporting the gross sales.  That will include the price of the item and shipping you collected.

(the 1099-K also reports sales that were not completed, such as cancelled listings, non-paid items etc)  It literally is the raw, sales total before anything else.

The reports you are showing are taking out taxes and fees.

You need to report the 1099-K numbers and then take deductions for the selling fees associated with sales.  Things like fees, shipping, cost associated with selling.  You also deduct cancelled sales, refunds, etc.

[wooden_flower]

@abitofthisnthat 

Refunds, fees and shipping are not deducted from the 1099k payments, so you need to start with your gross orders total, not your net payouts.

”This amount does not include any adjustments, for example, credits, discounts, fees, refunds, or any other adjustable amounts. However, sales tax and canceled transactions are excluded from the gross amount reported.”

https://www.ebay.com/help/selling/fees-credits-invoices/ebay-form-1099k?id=4794

[abitofthisnthat]

Okay, got it, Thanks!

[abitofthisnthat]

Would be nice if the Fees were broken down, like the refunds/postage!

[wooden_flower]

@abitofthisnthat 

Run the financial overview - it will show you everything that flowed through your payment account - https://www.ebay.com/sh/fin/reportslanding

The pdf gives you totals, the csv has the details.

[abitofthisnthat]

Thanks, that makes it easier!