Custom Label and Below Standard Charge

[m60driver]

I am working on using the messy Ebay generated order reports to use in response to possibly receiving a 1099K.  I have finally figured out how to copy and paste my way to create an uncluttered and useful report but have come across a minor enigma.  In one month's report there is a small amount, about $11, that shows up in both a "Custom Label" column and in the "Below Standard" column. I have, to the best of my knowledge, never created a custom label and have never been below standard.  In the  bigger scheme of things it is an insignificant amount, just curious is all as to what the heck this is.

[jayjaspersgarage]

Unless you have multiple user names there is no way you have sold close to 20K this year, however, the amount a seller sells has no bearing on whether you are supposed to track sales and expenses for taxes every year.  If you have never included ebay sales on your tax returns regardless of the amount of sales may the tax lord be gentle with you.

I have a simplified COGS recording system given the nature of my products.  I'm not familiar with the Custom Label column but I suppose I better go look.

[m60driver]

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@jayjaspersgarage wrote:

Unless you have multiple user names there is no way you have sold close to 20K this year,

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Yea, I did not think I was that close to 20K.  But I saw one Ebay number that showed over 20K gross so I am preparing a sample monthly spreadsheet just in case.  If I am below 20K then I just input my net profit into miscellaneous income on my 1040 based on net sales and my average net profit margin.

As for that custom label number, well there is a reason that Quickbooks has a "reconcile" button to deal with outliers.  Even the government does not expect a bookkeeper to spend hours chasing down a trivial amount.