06-05-2023 11:38 AM
I'm trying to keep records of my sales for taxes. I'm a little confused when it comes to gross income. Do I record what my purchase price was before fees and shipping are taken out? For example: I sold an item for 15.00, buyer pays 3.00 for shipping so it comes out to 18.00. Do I record 15.00 or 18.00? I've also noticed on the Ebay statements that my gross is different than my original listed price. So are the Ebay statements correct? I'm so confused on which price to record. I really hope this makes sense.
06-05-2023 11:40 AM
Gross is the total the buyer pays you.( Price of the item plus shipping.) Net would be what you get after fees and shipping.