1099-K - Reported Amounts Double

[benmcntsh]

I just received my 2021 1099-K and was surprised to see that the amounts in every box were exactly doubled from what they should be.  Has this happened to anyone else?

I contacted support and they said that they cannot help me and to consult a tax professional.  After some strong words that this is 100% an eBay error on the form they provided (over reported sales figures) they claim to be working on it.

[singular-source]

Part of me wants to just shut my store down for the next year until they figure this all out.

[dryophelia]

@benmcntsh 

There are a few posts like yours tonight.  

I have seen a comment on another thread saying this happened last year as well. When the physical form came in the mail, the numbers were correct. 

No sense fretting about it tonight. Nothing is likely to happen until the morning at the very earliest. 

Keep an eye on the announcements page. They may post updates there. 

[benmcntsh]

Thanks, I'm glad I'm not the only one.  2021 was my first year selling a significant amount so with a lack of past experience, this was quite a shock. 😬

[axiombody]

I changed over to managed payments in the middle of the year.  Been dreading having to manage two 1099Ks.  Just got my Ebay one, looks correct, but I haven't yet received my Paypal 1099K.  Usually it shows by now.  Ugh Taxes this year will be hell.  Best to all.

[dnasilver]

Hire a CPA, then they can enjoy Hades for you.

[dbfolks166mt]

     Ah but that would be letting eBay off the hook. Keep selling make them earn their fees. 

[dbfolks166mt]

     As others have mentioned there are several postings about this problem. EBay has until 28 February to correct the 1099's. After that you should contact the IRS, see other postings for numbers, and there are some steps you need to take when you prepare your taxes if you never receive a proper 1099, see other postings. 

     EBay's attitude seems to have changed a little bit and they are now "working on it". Earlier postings indicated that eBay was trying to pass the problem back to the seller. This was another one of those little things PayPal used to handle for eBay before eBay came up with the MP plan. I cannot imagine the IT and accounting changes eBay had to implement to accommodate this and other tax changes.  

     I would imagine eBay's pain is going to also be felt by the IRS when millions of 1099's show up next year if they are not already feeling it this year. 

[hiddenvermont]

I have not received any 1099 from either EB or PP. I did get them from Amazon and Etsy. What's the holdup?

[jasmen@ebay]

Hi everyone- we’re still looking into this.
I appreciate everyone taking their time to let us know about the errors you’re seeing. I’ve gathered the user ID’s of members reporting incorrect data on their 1099-k form and I have sent this for further investigation. Thanks again for working with me!

[benmcntsh]

Thanks for taking the time to understand our problems.  Apologies that it seems there are a few duplicate threads on this issue.

[lloydsteventaylor]

jasmen@ebay 

hi jasmen

i would like to add a request. i havent received my 1099-k for 2021 yet it is not posted in seller hub under payment taxes.  my sales were around $3500 for 2021 i am a New jersey resident   so the threshhold is $1000. please help me to find out why my 1099-k is not available. thank you for everything. i have contacted cs but they cannot help. i hope you have a contact that could help.

[lloydsteventaylor]

jasmen@ebay 

i would like to add a request. i haven't received my 1099-k for 2021 yet it is not posted in seller hub under payment taxes.  my sales were around $3500 for 2021 i am a New jersey resident   so the thresh hold is $1000. please help me to find out why my 1099-k is not available. thank you for everything. i have contacted cs but they cannot help. i hope you have a contact that could help.

[sportscardguys]

Curious if my id can be investigated as well, my 1099_K month to month is way different than when I look at my individual monthly performance.

[rarediecastmusclecars]

None of the numbers I received match the monthly statements, gross or net. Let see if the Ebay rep at the bottom of the page actually does something, or is it typical GREEDBAY smoke blowing ????