1099-K Reported Numbers Do Not Match

[retro_delmarva]

Has anybody else recently got their 1099K from eBay and noticed that the reported numbers are doubled?

With the records I keep i had a good idea of what my gross sales would be this year. The #s that were sent on my 1099K however did not match my records or even the records on eBay own sales reports. My best guess is if you look at the first picture you'll notice how each "Box" is listed and then repeated. The Box 1a on the list 17,356.46 is the correct number. But if you look at the second picture Box 1a reports double that amount 34712.92. Who should I contact to get this corrected? Thanks

[coffeebean832]

jasmen@ebay- That's the boilerplate information we can all find in the help pages. It is not addressing the issue where multiple posters are seeing everything duplicated. Is that really all eBay is going to say about this? It's not exactly building seller trust- especially when eBay has already messed up financial statements.

[partfinds]

What about Ebay shifting dates so december 2020 transaction is reported in january 2021? What about months ended 3 days before and the left over days shifted to another month? Can you report it so it gets corrected? Someone do\idn’t create reports by the date the buyer paid!

[dbfolks166mt]

     My guess is eBay is using accrual accounting which recognizes revenues when they occur irrelevant of when the cash related to the transaction actually moves. You can contact them and ask that question but accrual accounting is the only accounting form recognized by GAP and is the method most business utilize. 

[stainlessenginecovers]

jasmen@ebay

I have over 3500 transactions for the year and finding a 'transaction' that is wrong is impossible.

The 1099 does not match; each month is off by MINUS $367 to OVER $3,442 and the overall is off by $5513 (over reported).

All 12 months do NOT match the Payments Report for gross sales from the 1st to the End of Month on ANY of the 12 months. There is no 'determining' which transactions are shown or not shown as the 1099 only gives a total dollar amount.

This is not an accounting thing or a 'pending' thing'. These figures come from nothing that is ever given to sellers. 

[partfinds]

Paypal didn’t create reports by when money was processed to your account but by when buyer paid. They shouldn’t be putting money processed date first and  buyer paid date last. That is why there is delay of couple of days in reporting. And inacurate minthly gross is reported becayse of that mismatch dates.

[benmcntsh]

All transactions are correct so no dispute there.  The 1099-K simply lists all transactions twice, which is the error we are seeing.   For example I have a total of 152 transactions in 2021 but the 1099 says 304 in Box 3 (exactly double - everything is doubled).

[optimus.prime]

This does not help anyone, with the issue the topic is about. It’s extremely obvious ebay made an error and doubled every numerical value. What are we suppose to do? We can’t fix it ourselves. The 1099K has the right numbers, but everything is doubled.

[jasmen@ebay]

Thanks everyone for the added insight, I have pushed back to get more info. I'll update this thread as soon as i hear more! 

[dbfolks166mt]

Paypal didn’t create reports by when money was processed to your account but by when buyer paid. They shouldn’t be putting money processed date first and  buyer paid date last. That is why there is delay of couple of days in reporting. And inacurate minthly gross is reported becayse of that mismatch dates.

     Actually I just pulled my PayPal data for 2021 and they also use accrual accounting meaning they record the transaction amount when the transaction occurs not when the money actually moves. However with PayPal the transaction date and the seller payment date were a lot closer together that they are with eBay under MP. 

     I have not gotten my 1099 for 2021 yet but the monthly totals on the 1099 matched the data I pulled from the transaction report for 2020 to a penny. 

[retro_delmarva]

Thank you for taking a look into the matter. Im going to try and keep this thread on topic as it has went off course some. The issue with my 1099 as shown in the original post and a few others in the tread are that the numbers are not only off by a little but they are all exactly doubled! Somehow eBay has doubled every box on my 1099. From my transactions, monthly gross and total gross.

[optimus.prime]

Thank you for steering it back to our issue. 

I’ve also included a photo. Showing 2020 vs 2021. Everything is doubled on 2021.

[singular-source]

The questions, the discrepancies, the influx of millions of 1099s from so many companies...how do you not see the burden exactly? Venmo, Paypal, Uber, Doordash, etsy...the list goes on and on.  Incorrect information being sent to the IRS...god its endless.

[singular-source]

Trying to report income on a $600 used phone, that has depreciated and you owe nothing in taxes, but still need to keep record of the purchase receipt and prove you have not made a profit.  No idea how the IRS is going to handle this.  #@!& show.

[singular-source]

Not to mention you need to purchase turbo tax upgrade of $120 to file that phone you made zero on.  And possibly hire an accountant.  Lets all hire an accountant for the 0 dollars we made.  Oh man that annoys me to no end.

[dhbookds]

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jasmen@ebay wrote:

Hey @coffeebean832 we reached out for the best course of action, and the Payments team came back with this:

“If a member feels there's a discrepancy with their IRS Form 1099-K, they should review their payout report to identify which transactions are in question. If there is still a discrepancy after reviewing their payout report, please contact us and provide us with the disputed transactions and the reason why they feel they are not correctly reflected.”

Once sellers have the disputed transactions they'll want to reach out to the Payments team directly. 

Thanks! 

How/where do they do that?  can you give a link? 

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