I opened a SM LLC a week ago and need to update my eBay account.
I switched my account to a business account at the beginning of the year before my LLC was official, so currently my Business type is listed as Sole Proprietor with my LLC Name and EIN. I have myself listed under the owner details. I am trying to correct it and change it to Single-member LLC.
It asks me to add a primary contact, to which I put my personal information again.
It also gives me the option to check the 2 boxes below:
"Let us know if this person is also one of the following. Select any that apply.
Company director
Legally responsible for your business records, accounts, and performance.
Beneficial owner
Owns directly or indirectly 25% or more equity interest of your company, such as shares or voting rights."
1. Should I check both of these since I am the only owner/member?
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I will file my taxes as disregarded entity. And according to the IRS " if a disregarded entity LLC that is owned by an individual is required to provide a Form W-9, Request for Taxpayer Identification Number (TIN) and Certification, the W-9 should provide the owner’s SSN or EIN, not the LLC’s EIN."
2. Will eBay send the 1099k under my personal name/SSN or under LLC Name/EIN?
Link to IRS article:
https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-compan...
