2020 1099K Forms for managed Payments

[mr_lincoln]

Just curious if Jan 28 is when eBay will be sending 1099K forms to Sellers for 2020?  I checked Seller Hub and am not sure I believe the info on the 1099 tab  .... so I am wondering if this notification is just a boiler plate display or is actually what their records show??? 

[coastaltechsolution]

Someone mentioned earlier here that the 1099's will be ready end of January 

[ctmss4284]

January 31st is the legal deadline for 1099's and W-2's to be mailed to the recipient.

[valueaddedresource]

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@mr_lincoln wrote:

Just curious if Jan 28 is when eBay will be sending 1099K forms to Sellers for 2020?  I checked Seller Hub and am not sure I believe the info on the 1099 tab  .... so I am wondering if this notification is just a boiler plate display or is actually what their records show??? 

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@mr_lincoln  I'm assuming that is boiler plate and just another example of eBay rushing things into "production" without much thought to the confusion and stress it might cause sellers.

The 1099K help page says they will mail them by Feb 3rd, so I would imagine they *should* be available to download around that time as well.

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

[mr_lincoln]

@valueaddedresource, @ctmss4284 , @coastaltechsolution 

Thanks everyone for that ... yes I seem to recall it was sometime around the end of January and early Feb is fine too.  As ACC mentioned and I asked about the 1099 Tab info is probably just Boiler plate stuff ... I haven't crunched all the numbers since going in to MP in August last year but my sales dollars (NOT including shipping or sales tax) are hovering right around the 20K mark ... 

[nobody*s_perfect]

"my sales dollars (NOT including shipping or sales tax) are hovering right around the 20K mark ... "

The 1099-K gross income includes what buyers pay to you for shipping, so that might take the "hovering" out of your equation.

[mam98031]

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@nobody*s_perfect wrote:

"my sales dollars (NOT including shipping or sales tax) are hovering right around the 20K mark ... "

The 1099-K gross income includes what buyers pay to you for shipping, so that might take the "hovering" out of your equation.

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While MP has updated the detailed transaction downloadable report to now include Ebay collected sales tax, I haven't heard anything about them actually changing how they do the 1099K as stated on the policy page.

[valueaddedresource]

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@mr_lincoln wrote:

@valueaddedresource, @ctmss4284 , @coastaltechsolution 

Thanks everyone for that ... yes I seem to recall it was sometime around the end of January and early Feb is fine too.  As ACC mentioned and I asked about the 1099 Tab info is probably just Boiler plate stuff ... I haven't crunched all the numbers since going in to MP in August last year but my sales dollars (NOT including shipping or sales tax) are hovering right around the 20K mark ... 

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@mr_lincoln  for what it's worth, we did about ten times the 20K threshold in sales through MP since being enrolled in August through end of year and I am also getting that same message that says "You haven't sold enough on eBay requiring you to submit tax documentation."

So I'm pretty confident it's just really poorly thought out boiler plate. 🤣 If not, then I am in for some very interesting conversations with my accounting department. 😬

[ronsam-197]

I'm also pretty confident the verbiage will cause some sellers to think they don't have to include the income in their tax returns either.

[mam98031]

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@ronsam-197 wrote:

I'm also pretty confident the verbiage will cause some sellers to think they don't have to include the income in their tax returns either.

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That would be correct.  That is how it is currently written.  I don't think anyone is disputing that.