mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@dhbookds wrote:Didn't EBAY already send a 1099 before MP was even thought of if you went over the $20 grand mark for one tax year?
Nope because there would be no need for them to do that. They didn't process payments them. the 1099K is a requirement for Money Processors not a site that you might sell on.
Nit picky...........Ebay, thru paypal, did send l099's..........WHEN paypal was a part of ebay.......prior to 2015, I think was the split.......
Maybe to you but not to others. I've responded to many posts that thought Ebay should be issuing 1099Ks. So while this may be clear for you, it just isn't for others.
The split of the companies have absolutely zero to do with the conversation on 1099Ks. PP may have processed other payments for a seller that had nothing to do with Ebay. PP is responsible to report whatever monies ran through their sites from customers to a seller, regardless what site they came from [Ebay, Ecrater, Ebid, etc.].
1099Ks have NEVER been a requirement for Ebay to issue, nor is it now.
1099Ks are ONLY for Money Processors. That would be MP and PP.
@veronicabooksandart wrote:Good grief. Read my reason for not wanting MP because Paypal allows you to do online banking without having to do online banking:
With Paypal, you simply link a bank account - one not subject to all of MP's restrictions (e.g., savings account) - and without the need for (drum roll please):
"If you are an individual, this information may include, without limitation, your full name, address, phone number, date of birth, taxpayer identification number, bank account information, and a form of government-issued identification (e.g., a copy of your identity card or driver’s license)."
Not to mention giving Trustly Power of Attorney enabling autodrafts during, and under the guise of, account verification involving logging in with your banking credentials vicariously through eBay.
In other words, all your ecommerce banking transactions are recorded as Paypal transactions complete with detailed descriptions absent from an MP linked bank account - this omission has been implicated in needless returns/refunds/chargeback fees over purchase not recognized....; thus, far superior in every way and in every accounting sense - WITHOUT THE NEED TO DO ONLINE BANKING OR EVER HAVE TO LOG INTO YOUR BANK ACCOUNT!
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And besides, if you can't trust a name like Trustly, who can you trust?
That doesn't change what I said. While you, I and everyone else that has ever used PP have done financial transactions on PP, none of them were done with a bank because PP isn't a bank and none of those transactions had FDIC insurance because PP isn't a bank.
"Not to mention giving Trustly Power of Attorney enabling autodrafts during, and under the guise of, account verification involving logging in with your banking credentials vicariously through eBay." This only comes up if a seller chooses to go through verification process where they have to supply their banking login info. This is NOT a requirement. FYI, Ebay never gets that info and it isn't Ebay that has the POA. Below is a link to the information.
https://www.paywithmybank.com/terms-of-use/?lang=en
If you don't like what this link has to say, then simply don't use that verification process.
@veronicabooksandart wrote:In other words, all your ecommerce banking transactions are recorded as Paypal transactions complete with detailed descriptions absent from an MP linked bank account - this omission has been implicated in needless returns/refunds/chargeback fees over purchase not recognized....; [sic]
I'm afraid that's not quite accurate. Here's a sanitized version of what I see on the entries from my funding source for my eBay purchases from two Managed Payments sellers:
The entry clearly showed the member id of the seller, the fact that it was a transaction through PayPal, and that the transaction took place on eBay.
So your statement that detailed descriptions are absent is wrong, at least as far as my funding source is concerned. I know that's a popular rumor being spread around the discussion boards, but I've provided proof that it's not the case with my funding source. No one has ever posted any proof to the contrary.
Maybe you'd like to post a snippet of an entry from an eBay purchase from your funding source that shows the member id of a Managed Payments seller as missing to support your claim.
I would also challenge your conclusion that "this omission has been implicated in needless returns/refunds/chargeback fees over purchase not recognized....;" [sic] It's my conclusion that certain buyers have used "unauthorized transaction" as a convenient way to get the transaction reversed with the least amount of effort on their part--including not having to return the item--and it has nothing to do with the entries from their statements from their funding source for eBay purchases.
Even if not all entries from funding sources look like mine, I would still contend it has little to do with buyers filing an "unauthorized transaction" dispute. I virtually never pay attention to a seller's member id when I make a purchase on eBay. I'd be much more likely to recognize "eBay" as an entry for a purchase than I would "veronicabooksandart," and I'd be much more likely to claim a chargeback for that sort of entry than I would "eBay."
Your argument just doesn't hold up to any scrutiny.
@veronicabooksandart wrote:You skipped the part about MP omitting vital description detail covered by Paypal making chargeback fees ready for prime-time.
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Just a nit.
They didn't omit it. You may have missed reading it but it is the same as it was in PP and it is stated in the MP policy pages. Nothing new here.
@anne06 wrote:I'm confused as to what exactly are the Managed Payment. I just sold something and eBay said I checked something that then had them taking an additional $29. I was selling it for $350 and it came out $310. I'm not understanding. I posted the item and within 4 minutes it was sold and it seems I lost $40.
There are selling fees on Ebay. It isn't a free site. Ebay has to pay for everything that goes on with running this site so we pay them to use their platform so that we can sell whatever it is we are all selling.
350 X 12.35% MP fee = 43.22 + .30 transaction fee = 43.52.
You can see this in the Seller Hub, under the Payment Tab and then the All Transaction report.
The length of time something is up on the site before it sells has nothing to do with fees.
https://www.ebay.com/help/selling/fees-credits-invoices/selling-fees?id=4822#section8
@veronicabooksandart wrote:I can't produce a credit-card statement with an eBay purchase through Paypal or another through MP. I do know that my Paypal transactions are complete with purchase details (e.g., description of the item). Seeing as your bank account must pass for Paypal under the yoke of MP...
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Can you produce purchase details outside the little confines of your seller hub?
What you are talking about are reports within the PP site. Reports on PP are far superior to MP's or Ebay's for that matter. They always have been.
@mam98031 wrote:
@veronicabooksandart wrote:I can't produce a credit-card statement with an eBay purchase through Paypal or another through MP. I do know that my Paypal transactions are complete with purchase details (e.g., description of the item). Seeing as your bank account must pass for Paypal under the yoke of MP...
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Can you produce purchase details outside the little confines of your seller hub?What you are talking about are reports within the PP site. Reports on PP are far superior to MP's or Ebay's for that matter. They always have been.
I forgot to add that Buyers that are not selling under the same account do not have access to the Seller Hub.
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