Have sellers started getting 1099s?

[aragorn3778]

I am an ebay seller with multiple selling accounts. My total sales with postage added will come to over $20,000. I want to file my taxes ASAP and so have been checking for a 1099 form every day for the last week. Today the entry area for the 2022 1099 has vanished. Up until today it read that "no 1099 is available" for 2022.  The fact that the slot for 2022 has disappeared gives me a good deal of concern because I know from experience how many times Ebay has goofed things up. 

Has anyone with $20,000 is total sales spread across 2 or more accounts yet received their 1099?  Are other people still waiting for their 1099 showing an entry for 2022 or has this vanished for everyone?

[saresales1]

I can not even find were to look for it.

[caldreamer]

Nobody got 1099 yet...probably won't get it until 1/31.  But you can find information that you need to file taxes in EBAY reports.

EBAY has new "easy to read" 1-page report that show YTD totals for (gross sales/order, EBAY fees, refunds, shipping expense).  Go to PAYMENTS, REPORTS (on left-hand side click on REPORTS (NEW).    Enter time period 1/1/2022   12/31/2022.

[aragorn3778]

Thanks for the info but I am not so sure that Ebay reports are accurate. For example, I looked at the total for December of 2021 in the ebay reports and compared it to what the December of 2021 line stated on the 2021 tax  year 1099. The numbers do not match. The orders total for December of 2021 is 1811.80.  The 1099 December total is 1860.78. Sales at the very end of either November or December are not being counted properly by one of Ebay's two counting methods. 

The bottom line is if I go with the lower number and the federal gov gets a 1099 that reads $50 higher they will think I am misreporting my income. They won't care that it is Ebay's fault.

[aragorn3778]

The 1099 is on the payments page. Go to the selling link. Then look for "payments" about 7 options over on the row of links. Click payments, then click taxes.

[tsme35 · Accepted solution]

Yea I wouldn't rely on ebay reports, never have be accurate, they were a couple hundred dollars off for 2021.  I saw 2022-1099 disappear too, ebay waited until the 31st last year

[ms.rodriguez*]

Remember, a refund still shows in the column for money received.   So if you sold an item for 50, the 50 goes in the column for money received and the 50 also goes in the column as a deduction.  Maybe that is why the numbers do not match.

[slippinjimmy]

---

@aragorn3778 wrote:

Thanks for the info but I am not so sure that Ebay reports are accurate. For example, I looked at the total for December of 2021 in the ebay reports and compared it to what the December of 2021 line stated on the 2021 tax  year 1099. The numbers do not match. The orders total for December of 2021 is 1811.80.  The 1099 December total is 1860.78. Sales at the very end of either November or December are not being counted properly by one of Ebay's two counting methods. 

The bottom line is if I go with the lower number and the federal gov gets a 1099 that reads $50 higher they will think I am misreporting my income. They won't care that it is Ebay's fault.

---

A 1099K in eBay land will NEVER be "accurate"

A 1099 will not include:

Any refunds (full or partial)

Is not strictly reporting on a calendar year ( sales from the end of December may not be included while sales reported for January 2022 will probably include sales from the end of December 2021.

It's actually a pretty useless document if you want to file a 100% accurate tax return.

[simply-the-best-for-you]

Mine isn't on the Reports page yet either.   

What @slippinjimmy  said is correct, though we like to match our numbers directly to the 1099 numbers each year.  So my DH goes through a lot of effort to do so. 

[aragorn3778]

Yeah I know the 1099 is not accurate, but it is what the IRS will use to gauge rather people are reporting all their income or  not, so I prefer to use the less accurate ebay 1099 as the actual income before deductions.

[stainlessenginecovers]

To locate the 1099:

Seller Hub

hover over Payments- drop to 'reports'

Scroll down- taxes for 1099 at the bottom of the page

1099 NEVER matches most any reports you pull; even if you pull monthly transaction report (best to just checkmark 2 things: Orders and Refund. You can get 'fees' on a monthly report call 'tax transactions', also found in the Payments tab (NOT in the Reports portion)

Anyway, 1099 shows $$ that were 'deposited' per Managed Payments (may have no hit your bank yet, but whatever money they show being 'deposited' as of Jan 1, that's what shows)

So, it's sales from Dec 27,28,29,30 etc. 

Also end of 2022- any sales done Dec 27,28,29 etc. shows on NEXT YEARS 1099 (those dates vary per your bank, how often you get deposits, how long they take to go from a 'transaction' (buyer buying) to Managed Payments having the $$ in hand (and NOT pending)

[tsme35]

Actually got mine in the mail today, total surprise

[1tuna]

mine came in the mail today

I like looking at the performance tables to see what  have sold. I sold 2114 pieces last year to 1235 total buyers

I got 1676 payments for those pieces

the number of payments I could not really locate in the review your sales section

I was sort of surprised to see the number on my 1099K

I love my repeat buyers

@aragorn3778 

[monica-sells]

"...Yeah I know the 1099 is not accurate, but it is what the IRS will use to gauge..."

on one hand you are right, (initially) on the other hand it is wrong.......

IF you get a "letter audit" it is because the top line is not in balance or is "below" the combination of "reported income" from outside sources (W-2, 1099, Interest, etc.....)

so, in this case, it is a valuable resource to have a completed 1099 in hand that is the basis for the IRS "balancing"..........

If you are involved in a "physical" audit, the 1099 is as worthless as toilet paper...ALL THAT MATTERS is what went into your checking account........between January 1 and December 31 (assuming cash basis which, unless you really know what you're doing, is what most of us are on)..

If your audit says your deposits totalled 10,000.00 for the year from a vendor, but their 1099 said 7,000.00 , well, I'll let you figure out the consequences if you try to put 7,000.00 on your income line instead of what was deposited........

vice-versa, if it says 12,000, but only 10,000 was deposited, they do not even consider that paper.....they will probably request that you get an amended 1099 if there is that big of a discrepancy........

This only applies to transfers that can ONLY be deposited by wire or ACH

[dbfolks166mt]

@aragorn3778 wrote:

Thanks for the info but I am not so sure that Ebay reports are accurate. For example, I looked at the total for December of 2021 in the ebay reports and compared it to what the December of 2021 line stated on the 2021 tax  year 1099. The numbers do not match. The orders total for December of 2021 is 1811.80.  The 1099 December total is 1860.78. Sales at the very end of either November or December are not being counted properly by one of Ebay's two counting methods. 

The bottom line is if I go with the lower number and the federal gov gets a 1099 that reads $50 higher they will think I am misreporting my income. They won't care that it is Ebay's fault.

A 1099K in eBay land will NEVER be "accurate"

A 1099 will not include:

Any refunds (full or partial)

Is not strictly reporting on a calendar year ( sales from the end of December may not be included while sales reported for January 2022 will probably include sales from the end of December 2021.

It's actually a pretty useless document if you want to file a 100% accurate tax return.

     The 1099 issued by eBay is accurate based on the accounting method they use. Whether it matches the sellers own records and information they enter into their schedule C is based on the type of accounting method the seller reports on their schedule C. Cash and accrual are the most common types with accrual being the easier of the two but it also causes the biggest disparity between the eBay 1099 and the sellers tax filing information. You have to declare your accounting method on your schedule C when you file your taxes and once declared it takes special compensation to be able to change it.