$20K Gross Sales Limit 1099-How do I find exactly what e-Bay has as my yearly gross sales amount?

[skullandcircle]

This is the first year I have come even remotely close to the $20K gross sales limit before receiving a 1099. 

-Is it still a limit of $19,999.99?

-am I correct that sales tax eBay has collected on my behalf is included in this $19,999.99?

-where in my account do I find the exact year-to-date gross sales amount that eBay has on record and would report if necessary?

-the only thing I have found is going to PERFORMANCE-SALES REPORT-SALES/CUSTOM-then making a custom report for each individual month in 2020.

-certainly there has to be an easier way

[corvettestainless]

Were you in Managed Payments or paypal all year, partial year?

[luckythewinner]

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Are you in eBay's managed payments, or are you accepting payments via PayPal? 

[mtgraves7984]

The last 12 months  are shown on your Seller Hub in the Seller Level box. (Remember that it changes the 20th of every month.) I don't know an easy way to get a YTD total. Good luck.

[mam98031]

If you are new to MP this year, if you reached the minimum requirement thresholds while in MP, then they will issue you a 1099 early next year.

PP will issue you one for the time you used them as your money processor if you hit the minimum threshold for the 1099k.

They will NOT ever be combined together.  So while you may not get a 1099K this year, you are still responsible for reporting your income to IRS.  I know some think that if they don't get a 1099K they don't have to report their income, but that isn't true.

You should be tracking your own sales.  You shouldn't be depending on Ebay or PP to do that for you.  You should have your own records and then use reports out of Ebay and/or PP to cross check your numbers.

Under the Payment tab in the Seller Hub you will find some reports on your Ebay sales while in MP.  Under the Orders tab there is a downloadable report for your sales in Ebay whether in MP or not.  Keep in mind that Ebay reports currently only go back about 90 days.

In PP they have all kinds of great reports that you can use for the time they were your payment processor.

[mam98031]

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@luckythewinner wrote:

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Are you in eBay's managed payments, or are you accepting payments via PayPal? 

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Sellers in MP accept PP payments.  I'm unsure of what your question means?

[nobody*s_perfect]

When a seller in MP accepts a payment from a buyer who is using PayPal, that payment is processed through MP.  That transaction would involve the buyer's PayPal account, not the seller's. The question was about whether the seller uses PP or MP to accept payments, not whether they accept payments in which the buyer uses PP.

[skullandcircle]

MP started in early September. PayPal prior to that.

[skullandcircle]

MP started in early September. PayPal prior to that.

[femmefan1946]

-Is it still a limit of $19,999.99?

Yes. but you don't pay your taxes on that. PP (and MP) will report the amount they processed for you, if it is $20K or more.
You report any amount under $20K on your taxes, or more accurately the profits on that amount.
You pay taxes only on your profits. Keep records.

-am I correct that sales tax eBay has collected on my behalf is included in this $19,999.99?

Yes. PP reports the entire amount they processed.

The sales tax is a deductible, since it didn't stay with you.
The PP fee on the sales tax pass through is also a deductible cost.

-where in my account do I find the exact year-to-date gross sales amount that eBay has on record and would report if necessary?

In your own accounts. EBay does not know how much you collected in cash on Local Pickups, for example.

certainly there has to be an easier way

Mwah hah hah hah hah.

You may need a tax accountant with experience in online commerce and state sales taxes.
It will cost money, and is deductible, but well worth it.

[the*dog*ate*my*tablecloth]

general comment:

you should be reporting and paying taxes regardless of whether you meet the threshold for the 1099. The only difference with a 1099 is that it gives you another number to reconcile your tax reporting to.

If you’re not paying taxes you should be prepared. Two states (MA and VT) dropped the limit to $600 with little notice. So all of a sudden sellers were having their sales reported. The IRS can go back several years  with interest and penalties for tax evasion. That doesn’t mean that MA sellers have to pay taxes on earnings of $600 and everyone else is free and clear under $20k.

it always surprises me how many people come on a public forum and admit to breaking the law.

[skullandcircle]

-Never once in my post did I say that I was not reporting my sales to the IRS. I ALWAYS have. 

-This is the first year that I am close to the $20K limit for a 1099K. Therefore, I want to make sure that what I have been reporting all these years is what eBay has on record. 

-My luck, I would be audited after receiving a 1099 and what I calculated via my spreadsheets and reported in years past is somehow wrong. i.e. I have inadvertently missed something important.

-Plus, if I can find a report on eBay that shows me the figures on my spreadsheet, I would no longer have to do this manually.

[skullandcircle]

thank you for your response - yes, I have been using an excel spreadsheet all these years and have been reporting my income each year.

[skullandcircle]

-If you have assumed that I am or have been breaking the law:

-Please read my post again without adding your own interpretation

-Never once in my post did I say that I was not reporting my sales to the IRS. I ALWAYS have. Every year for the past 24 years.
-This is the first year that I am close to the $20K limit for a 1099K. Therefore, I want to make sure that what I have been reporting all these years is what eBay has on record.
-My luck, I would be audited after receiving a 1099 and what I calculated via my spreadsheets and reported in years past is somehow wrong. i.e. I have inadvertently missed something important.
-Plus, if I can find a report on eBay that shows me the figures on my spreadsheet, I would no longer have to do this manually.

[tev4all]

   Seek out and consult with a reputable CPA or Tax Attorney, be prepared it may cost up front for the consultation.

Free advice given by members on the boards could/may be correct, but they probably won't stand up for you in an audit situation. 

You get exactly what you pay for, most of the time.