1099-K and taxes

[jfknc4]

My first 1099-K. . Am I understanding what the customer paid for shipping is income???  Actual shipping costs are not listed on the 1099-K.    and returns?   I did see them on another page but can't find it now,,,,,

I've been selling for 20 years but still can't navigate the site effeciently

[evry1nositswindy]

The 1099k is your gross total with shipping, fees, etc included.  You would then use a Schedule C to deduct those expenses and returns, etc,  To find this information, go to https://www.ebay.com/sh/fin/reportslanding and change the dates to Jan 1-Dec 31 2024.  

[kensgiftshop]

Right, the shipping the buyer paid is part of your income.

The shipping you pay has nothing to do with the 1099K, you deduct it when you file your taxes.

Refunds you give are not deducted on the 1099K either, you deduct them.

Your other post is here:

https://community.ebay.com/t5/Ask-a-Mentor/are-shipping-charges-reported-to-IRS-as-income/td-p/34970...

[worldcoinauctions]

Everything you get is income. To keep it simple I work on a net basis with ebay. I don't spend any of the funds on the site, the only thing I do is pay the postage. I send the funds to a special bank account. Come the end of the year I just need to know what I took out of ebay. I add that to my other sales. I subtract all my selling expenses (rent, electric, supplies, goods for resale, you get the idea) OK, that is on a line on the return but it is essentially subtracted from the income.

Don't make it too complicated. 

[susantrued]

I received a 1099K from 2019.  Unless I am doing something wrong, l am unable to go back that far in time.  Well Ebay have this information.  Is it the yearly sales report that i Need to ask for?  

Thanks in Advance