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1099K and my LLC, how will that work?

I run my ebay through a business account at my bank. I have my LLC registered in my state and I am have done all the other this and that's necessary

 

So, I see that ebay wants my full SSN, which I am willing to do, but I wanna know if the 1099K is going to be sent to me personallly or what do I have to do to make sure it comes to my business? 

 

I am sure that I am not asking this right but I hope you get the point I am trying to ask. 

 

Any insight into this would be greatly appreciated

 

Thanks

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1099K and my LLC, how will that work?

@gustontradingco,

 

It depends on how you registered your LLC, so you may need to look up your LLC filing documents to figure this out.

 

Most of the time, if your LLC is a sole proprietor, then you use your SSN to identify the tax entity that owns the LLC. In that case, the 1099-K will be issued for your SSN, and you need to include it on your personal tax return 1040. Most LLCs involved in online selling will use the Schedule C to report their business earnings and losses on their tax return.

 

However if you have another kind of tax ID (TID) number for your LLC, such as an EIN, then you would provide that to eBay to use for 1099-K instead of your SSN.

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1099K and my LLC, how will that work?

You can give them your business tax ID #  (TIN)

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1099K and my LLC, how will that work?

Ebay will accept your SSN, TIN or EIN, your choice.  When 1099Ks are available you will be able to print it online from your Seller Hub and the Payment tab.  

 

If one is mailed, they would use the Primary address on your account.


mam98031  •  Volunteer Community Member  •  Buyer/Seller since 1999

"I can explain it to you, but I can't understand it for you." Quote from Edward I Koch

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