1099k tax question

[pskoni]

I am revamping my selling spread sheet and just thought why am I keeping track of sales tax collected by Ebay all this time when it does not get reported on the 1099k?

[dhbookds]

Question that occurs to me is what "total sales amount" you are booking.............if it's the total including sales tax........then you need to keep track of the sales tax amount to deduct it from that total......for tax purposes........

[lacemaker3]

@pskoni,

Some states require sellers in their state to file a sales tax report, even if it is a zero-value report because the sales tax was collected by a marketplace facilitator like eBay. So that's why the information is available to your. If your state doesn't require you to report like that, then maybe you don't need to keep track of it. Best to keep complete accurate records, anyway.