How do I find my total sales for January - Do they include sales tax

[oillamp]

How do I find my total sales for January?  Also, I want to stay under the $2500 IRS reporting limit this year.  To determine the $2500, does ebay just include selling price, or do they include sales tax in the figure.

[ewsupply]

@oillamp 

Go here to View your January total sales:

https://www.ebay.com/sh/ord/?filter=status%3AALL_ORDERS%2Ctimerange%3APREVIOUSMONTH 

Look for "Total sales"

The reporting limit Ebay shows on your 1099 K is Gross sales. If you want to see the breakdown, run the Details report from the page where your tax form is and it shows everything that goes into that figure.

[mam98031]

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@oillamp wrote:

How do I find my total sales for January?  Also, I want to stay under the $2500 IRS reporting limit this year.  To determine the $2500, does ebay just include selling price, or do they include sales tax in the figure.

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Why?  You are required to report ALL your income whether it is $100 or $100,000.  Whether or not you get a 1099k does NOT determine if you have to report it on your income.

Myth: If taxpayers didn't receive a Form 1099-K, they don't have to report income.
Fact: According to federal law, all income is taxable unless it is specifically excluded by tax law. Taxpayers should report any profits from selling goods or services, regardless of if they receive a Form 1099-K.

https://www.irs.gov/newsroom/irs-never-mind-the-myths-know-the-facts-about-receiving-a-form-1099-k-i...

As for seeing how much you've had in sales for any period.

https://www.ebay.com/sh/fin/reportslanding

[slippinjimmy]

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@oillamp wrote:

How do I find my total sales for January?  Also, I want to stay under the $2500 IRS reporting limit this year.  To determine the $2500, does ebay just include selling price, or do they include sales tax in the figure.

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Never a good idea to announce your intention to evade income tax on a public discussion board!

[fern*wood]

Never ceases to amaze me. 

[oillamp]

I report my estimated net profit every year to IRS and pay my taxes. I pay everything I owe. BUT, I sell things I have accumulated over the years and do not have receipts. (Who gets receipts at yard sales and purchases from friends and neighbors). I can not prove how much I paid for sold items if audited. That is my reason for not wanting a 1099.  Without a 1099 to IRS I can pay my owed taxes, IRS would not even know I was selling items on ebay, and not have to worry about having to prove what my net income was. I am not a business, just selling items I have accumulated the past 60 years. I have a lot, and many are expensive. I lose money on many items I sell (I can not prove it), I just want them gone.

[chapeau-noir]

@oillamp  Don't worry about lack of receipts for the old stuff - people clearing personal estates face this all the time (I've cleared four family estates). Best honest estimation for value is a accepted in lieu of receipts. There's a lot of info about this on line. Try Tax-Act, etc.

[oillamp]

Ebay says be sure to keep receipts, as they will be required if audited. I have never been audited, and am too old to be concerned about that.

[lux.ra_14]

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@oillamp wrote:

Ebay says be sure to keep receipts, as they will be required if audited. I have never been audited, and am too old to be concerned about that.

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Being stubborn won't get you anywhere. You can estimate the original cost of personal items that you sell. In fact, you could pay less tax that way, or no tax at all if the items were sold at a loss.

[chapeau-noir]

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@oillamp wrote:

Ebay says be sure to keep receipts, as they will be required if audited. I have never been audited, and am too old to be concerned about that.

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Ebay says a lot of stuff, but they cannot exceed or contradict  tax law, which allows for valuation with receipts in these cases. This can be verified with some research suitable to your own situation. Keep records of your valuation.

Ebay's concern with receipts is generally on new items at risk for fraud and theft, and then in their own investigation, which does not concern tax law.

[luckythewinner]

Best honest estimation for value is a accepted in lieu of receipts

Best honest estimation for COST is accepted in lieu of receipts. The best estimate for value is what a buyer is willing to pay. If that worked, everyone would claim they have no receipts and claim they sell everything at no profit. 

[cambriachick]

For old personal or family items, my CPA has me estimate how much the old, used item would cost on eBay or at a flea market.  You do not use the price of the item from when it was new, because you are not selling it new.

While it sounds like that would be a wash, you could possibly make money selling it and deduct the cost of doing business.

[chapeau-noir]

You can make up your own mind, but the form 1099 is for all revenue (including shipping paid to you), excluding state taxes as we never receive or handle them, ebay does that. Reporting means you can take all lawful deductions.

[mam98031]

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@oillamp wrote:

I report my estimated net profit every year to IRS and pay my taxes. I pay everything I owe. BUT, I sell things I have accumulated over the years and do not have receipts. (Who gets receipts at yard sales and purchases from friends and neighbors). I can not prove how much I paid for sold items if audited. That is my reason for not wanting a 1099.  Without a 1099 to IRS I can pay my owed taxes, IRS would not even know I was selling items on ebay, and not have to worry about having to prove what my net income was. I am not a business, just selling items I have accumulated the past 60 years. I have a lot, and many are expensive. I lose money on many items I sell (I can not prove it), I just want them gone.

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A 1099K has NOTHING to do with whether or not you have a receipt for items.  And if you ARE actually claiming the money you get for selling on the internet, receipts are still needed or evidence of the fair market value of the item.  

You are NOT the only seller that doesn't have receipts for what they sell from their personal items.  Not a unique story and the IRS is well aware of it.  You just need to make a fair attempt at proving the fair market value of the item.  Keep that info with your tax papers.

[mam98031]

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@oillamp wrote:

Ebay says be sure to keep receipts, as they will be required if audited. I have never been audited, and am too old to be concerned about that.

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Even us old folk are not above the laws.

https://community.ebay.com/t5/Announcements/eBay-and-TaxAct-partner-to-help-you-navigate-new-Form-10...

https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses/income-expenses

https://www.irs.gov/businesses/gig-economy-tax-center

https://pages.ebay.com/seller-center/service-and-payments/2022-changes-to-ebay-and-your-1099-k.html

https://www.irs.gov/pub/taxpros/fs-2022-41.pdf

https://www.kiplinger.com/taxes/irs-free-file