2020 1099-b form

[tim-gloria]

I contacted Ebay to get a 1099-b form for my sales under  Ebay's mismanaged payments system for the period of 2020 that I was forced to use that piece of garbage. Even though my total 2020 sales on Ebay surpassed the IRS threshold of $20,000 in sales and 200 transactions, Ebay is refusing to provide a 1099-b form for my sales during the time I was under mismanaged payments. Their reason, I did not sell $20,000 or 200 transactions while under mismanaged payments. So, for over half of 2020, my transactions were under my preferred PAYPAL, exceeded the IRS threshold, how do I get the necessary information to legally complete my tax return. The Ebay representative showed me an EXCEL transaction report that was voluminous in content.  It listed every transaction and every cost expense, fee, tax and more. It was totally overwhelming. She told me to add up all the transactions in certain columns. ARE YOU NUTS??? A professional accountant would have a difficult time sorting through all that. As a matter of fact, that is what she suggested tome, take it to a tax professional and have him figure it out AT MY EXPENSE!!  What should I do to get a 1099-b for the sales under mismanaged payments? If I go to jail, will Ebay bail me out?

[penguins_dont_fly]

@tim-gloria 

If you are making that kind of volume, you should be keeping your own books ... what type of accounting system are you using?

eBay was NOT your payment processor for half of the year, PayPal was.

eBay does not have your sales amount records for the half of the year that PayPal was your payment processor...PayPal does. PayPal does not have your sales amount records for the other half ... eBay does.

[luckythewinner]

I contacted Ebay to get a 1099-b form for my sales under  Ebay's mismanaged payments system 

I believe you mean a 1099-K, not a 1099-B. 

Ebay is refusing to provide a 1099-b form for my sales during the time I was under mismanaged payments. Their reason, I did not sell $20,000 or 200 transactions while under mismanaged payments. 

Their reason is absolutely correct. As a payment processor, Managed Payments only issues a 1099-K if your payments received through Managed Payments exceeds the threshold for a 1099-K. Yours did not. 

 The Ebay representative showed me an EXCEL transaction report that was voluminous in content.  It listed every transaction and every cost expense, fee, tax and more. It was totally overwhelming. She told me to add up all the transactions in certain columns. ARE YOU NUTS??? A professional accountant would have a difficult time sorting through all that

In a spreadsheet , it takes 10 seconds to create a total for a column of numbers. Every professional accountant knows how to do that, and so does anytone who has used a spreadsheet. 

Also, every professional accountant knows that for an eBay seller, a 1099-K is not sufficinet to do your taxes anyway. He will need the transaction details to do a professional job with your taxes. 

So, for over half of 2020, my transactions were under my preferred PAYPAL, exceeded the IRS threshold, how do I get the necessary information to legally complete my tax return.  What should I do to get a 1099-b for the sales under mismanaged payments?

You download a transaction report from PayPal for your PayPal transactions, and you download a transaction report from Managed Payments for your Managed Payments transaction. 

I also switched from PayPal to MP in the middle of the year, and did not get a 1099-K from either MP or PayPal.

I did my taxes for all six eBay selling accounts in about 4 hours. 

[jda15121]

You don't need a 1099 to do your taxes. In fact you should have been reporting even if you didn't reach the threshold. The threshold is statutory and has nothing to do with your tax responsibility.

[tradads08]

Bravo to luckythewinner!! Just exactly what Ebay's mouthpiece would say to defend itself. His record is 17565 posts. No single individual would have the time or patience to make so many posts. It would be a full time job in itself. How many people are working under Ebay's tutelage, are answering posts that are derogatory to Ebay? Just look at the way he  replied to the post about 1099 forms. So complete, so involved, so blatant with the red highlighting, he must have spent a good amount of time creating such a put down of a reasonable request. He is obviously a very busy person. Just imagine running six Ebay accounts and still having time to answer all these negative posts. I don't know about him, but I can't do my taxes by myself with just one Ebay account. And he did his six accounts in just four hours?? He speaks like a professional accountant! He states he can read Ebay's spreadsheet in just 10 seconds!! It would take an average of ten MINUTES just to figure where to start

It would only make sense that Ebay, in its infinite wisdom, would have predicted there would be this very situation for thousands of sellers, by rolling out their payment system in the middle of the year. If not out of necessity, but as common courtesy, or good business practice to provide the thousands of sellers that are now left to their own devices, with tax information they **bleep** well knew was going to occur.  Ebay  is already providing sellers in certain states that require its own specific requirements tax information. Why not provide all sellers with partial tax information whether they use it or not.

So go ahead luckythewinner, let's see you, or another member of the "EBAY DEFENSE TEAM" tear this and all the other negative comments that appear in this Community help group.

[thejo-52]

You could join go daddy and they can import all that and add it up for you real quick its pretty affordable   They added all mine up from paypal and then from ebay. Less than $100  a year to join.

[dhbookds]

I'm not understanding the OP's method of reporting........... so you just use the 1099 information and do nothing else.........no adjustments to that figure?  I mean you should be subtracting ship costs, fees.........etc.........  All that involves at least some column addition/subtraction.......

[tim-gloria]

The 1099 - "K" is a fundamental part of income tax preparation. It is also the proof needed to show the IRS exactly what and where you got your figures you submitted on your income tax form. Ebay worked on setting up this mis-managed payments mess for years. They knew they were going to implement it in the middle of the tax year. They also knew that thousands of sellers were going to be caught in this situation, having total year earning exceeding the IRS threshold, but not in Ebay's mis-managed payments abortion. Ebay could have / should have enabled their system to provide 1099-k forms to ANYONE that asked for one, if not out of prudence, but out of good customer service and relations. The response from the Ebay shill above  is exactly what Ebay wants us to believe. If you believe that nonsense, "I did my taxes for all six eBay selling accounts in about 4 hours." you do need help!