eBay

mostlydicestore · ‎01-27-2022

Hi,

I need some help making sense of eBays documents. I'm working on my 2021 taxes and unlike PayPal, eBays reports don't match up.

For example The Financial Statement has shipping labels at $348.74 but the Tax Invoice only has shipping at $3.50... big difference.
On the same report it has Other Fees at $78.28 (Ad/ Promo fees) but on the Tax Invoice it lists $19.89.

And most importantly NO WHERE on the Financial Statement does it list the total for the Final Value Fees.

Anyone else having the same issue?

stainlessenginecovers · ‎01-27-2022

Go to My Ebay/Seller Hub

Hover over 'Payments' (top of page)- click on REPORTS

Assuming you are not getting a 1099 for $20k/200 transactions- then

Run a 'Report' 1/1/21 to 12/31/21. That report will show much more than you ever wanted (I 'hide' many of the unused columns; I create a 'row' at the top for a 'Total' and then total up Final Value Fees, .30c Fees, 'Other Fees, shipping paid (if and ONLY if you took shipping from 'Pending Payments'- otherwise I get all my 'shipping' costs on a Paypal Report) as well as 'Gross Transactions'.

Deposits into bank (net) and many other columns are worthless for tax purposes, so as I stated, I just 'hide' them (so they can be seen if needed later).

mostlydicestore · ‎01-27-2022

Thanks, yes I've done this and the Shipping from this transaction report and the Financial Statement lines up but trying to match up the Fees is impossible. There needs to be a source of truth. I should be able to see a complete breakdown of Total Sales, Shipping, each fee, and payout.

This was much better for eBay implemented their manage payment systems.. is still very immature and not ready for prime-time. PayPal reports are much better and I could do pivot tables on them to get exactly what I needed.

Thanks for the response though.

luckythewinner · ‎01-27-2022

@mostlydicestore wrote:
Thanks, yes I've done this and the Shipping from this transaction report and the Financial Statement lines up but trying to match up the Fees is impossible. There needs to be a source of truth. I should be able to see a complete breakdown of Total Sales, Shipping, each fee, and payout.

If you did what stainlessenginecovers describes, you have everything you need for your taxes. You don't need to match it to any other ebay report - the data in that report is your source of truth and it contains a complete list of every transaction - each sale, each fee, each refund, and each shipping label.

You mentioned payouts, but I am struggling to understand how you would use payout information in your taxes.

I do what stainlessenginecovers describes, and it took me less than an hour to get everything I needed for my taxes. What specifically does it lack?

stainlessenginecovers · ‎01-28-2022

That report IS the source of truth. There are up to 5 types of fees.

1.) Promotion Fee

2.) .30c

3.) Final Value

4.) Listing (if you list in 2 categories, will have .10c charge there; or you exceed your allotment)

5.) Store

Then there are

6.) 'Refunds'

In the Gross Transaction Column, they put #1, #4, #5 & #6 mixed in. I create a 'column' next to this Gross for each one of those, and move those figures over. Then I Zero them in the Gross Column (so I don't lose them).

This gives you everything you need.

etrshop · ‎02-15-2022

YUP! TOTALLY CONFUSING! Ebay should make just ONE statement each month! I just called them and they said due to returns and credits the numbers change. So my month to month never matches up to the end 1099K. So maybe best to do the month to month as a ROUGH (but close) budget tracking for expenses ...but run the end report like stainlessenginecovers says and report that for taxes.

albena67 · ‎02-15-2022

I am using the Financial Statement Jan 1st 2021 to Dec 31st 2021 to track everything. In the beginning of the year (Jan to April), Ebay would hold my funds whenever I had a return. They don't put my funds on hold starting May 2021.

When I sum all Holds in the full year report, it appears that Ebay still hold about $600. Any idea who can I contact with the issue? I have put all holds in a separate worksheet to verify the number.

I appreciate any help!