eBay

valueaddedresource · ‎02-01-2021

The Payments team just announced 1099-Ks and a new 1099-K Detailed Report are available.

https://community.ebay.com/t5/Payments/Form-1099-K-Detailed-Report/m-p/31575590#M106915

Hopefully that report will be easier to follow to match up exactly what is included and how eBay arrived at the numbers on the 1099-K.

Interested to hear people's thoughts and experiences with the 1099-K Detailed Report vs the Transaction Report!

valueaddedresource · ‎02-01-2021

@myhomeschooldelights wrote:
@valueaddedresource
I feel like a zombie after looking at this all day. Thanks for all your great insights and informative posts. Very much appreciated!

@myhomeschooldelights you're welcome! Glad it's helpful. 😊

mam98031 · ‎02-01-2021

@tsme35 wrote:
It is a mess, for the whole 2020 I ran a sales report, transaction report and 1099, ALL 3 numbers were off $250 to $355 from each other, which is not good but closer then I would have guessed. I know I'll have to use 1099 but god forbid I ever get audited because the eBay's fee's and shipping labels off the 1st 2 and the financial report are not even close

Read what @myhomeschooldelights posted carefully as it is likely to help you resolve your issues.

mam98031 • Volunteer Community Member • Buyer/Seller since 1999

tsme35 · ‎02-02-2021

It makes sense, shouldn't be this hard though. Had a rep a couple months ago tell me they go by the date the payment is made not when it cleared. I look at it this way, even if the numbers flood into the next month, as long as I report the constant it'll match up

azh-71 · ‎02-02-2021

I received a paper copy in the mail yesterday, e-mail notification that it's available for download - this morning, yet when I go taxes tab it's empty.

best_deals_free_shipping · ‎03-05-2021

Where do you see the completed transaction dates on MP reports? Also, are we suppose to not deduct sales tax collected by eBay?

Appreciate the help!

thirdstonevintageshop · ‎02-02-2022

Friend, I'm right there with you. I'm embarassed about how much time I'm spending reconciling eBay's 1099 to my accounting. When I was with PayPal, there was no reconciling; my records matched PayPal's to the penny. I don't have time for this, but I have to reconcile it in case I'm audited.

This does raise the question as to the validity of their rationale. I'm cash based, so I enter transactions when they are paid. Do other methods of accounting use what eBay is using for their 1099 (Settlement Date vs. Paid Date)?

For the future, on the various eBay reports, what Date would be considered the Settlement Date? Which report to look at is a whole other issue. It's a HOT MESS. I have to look at 2 or 3 of eBay's reports to get the STANDARD BUSINESS INFO that I need to do my monthly reports. Plus, the one report that replaced the Seller's Hub Report DOESN"T INCLUDE DATES. Pardon the all caps, I'm just very frustrated at this point with eBay's reporting.