90 day total problems

[pow_2584]

Ive accumulated almost $600 in a 90 day period...i got a message from ebay about after 600$ i would have to fill out some kind of form does anyone know what that might be???and my total $ that I have acclimated started going the opposite way like now it shows $460... can anybody tell me why that is??

[fashunu4eeuh]

Hi, you don’t have to generate the 1099K form, eBay has to. A new federal law now requires that selling platforms notify the IRS when a seller reaches $600 in sales. That total will include shipping and taxes.

You will be responsible for showing documentation to the IRS regarding deductions and how much of your eBay income is taxable, if any.

[fab_finds4u]

This might be helpful.

https://www.ebay.com/sellercenter/resources/2022-changes-to-ebay-and-your-1099-k

[reallynicestamps]

This doesn't mean you have to pay income tax on the $600. You will have costs that can be subtracted from that amount- procurement cost, eBay fees, packaging costs, shipping costs.

[buyselljack2016]

and my total $ that I have acclimated started going the opposite way like now it shows $460... can anybody tell me why that is??

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@pow_2584 

Your 90 day total will go up or down based upon the 90 days being looked at.

When a new 90th day is added, day one drops off the other end.

The 90 days if an every changing set of actual days.

If you had no sale on the new "day 90", but had a sale on the "day one" that dropped off your 90 day total would be lower.

If you had a sale on the new "day 90", but had no sale on the old "day one" that dropped off your 90 day total would be higher.

[buyselljack2016]

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