12-09-2023 02:25 PM
I just got and email saying ebay needs my SSN and such for the IRS because I sold $600 in sales. Problem is I have only sold $514 in sales since Dec 31, 2022. I am unable to contact a rep on the phone to discuss this.
Is ebay deficient in math?
12-09-2023 02:52 PM
You need to add shipping to your total, and do not deduct refunds. The 1099k is gross payments, not including sales tax. Once eBay asks for your tax ID, they will not cancel the request - they usually ask for it when you’re getting closer to $600, which you are.
You probably won’t get a 1099k, based on the 12/8 eBay announcement, but that doesn’t change your responsibility to report and pay tax on any profit you made here.
12-09-2023 02:53 PM
Ebay needs your SSN number regardless. Also the $600., is gross payments processed (not gross sales), which includes shipping with no deductions for refunds, postage, expenses, etc. A 1099 also doesn't mean you owe any taxes either, but you still must report all income.
12-13-2023 07:05 AM
Thanks especially about the 12/8 announcement. I'll deal with the 1099K when I get it.
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