How to Create Net Profit Report for 1099K?

[m60driver]

I miscalculated and will probable receive a 1099K for 2021.  I am trying to create a report to put into Google docs that would facilitate creating a monthly net profit report where I would only need to input my cost.  The only reports I seem to be able to generate are these large reports with irrelevant information that do not have shipping costs (I use the free shipping option) on the same line as the item and include other expenses such as monthly store subscriptions that make a copy and paste formula useless.  This makes it rather awkward.  I just want a a report that only has the following on each line: Date sold, Item description, Sell Price, Shipping Cost, and Final Value Fees.  Is this possible or only a pipe dream?  The data is out there.

[wastingtime101]

You'll have to download larger reports from the Payments tab and throw them in Excel. From there you can eliminate any columns you don't want.

You'll have to add in your own item cost and shipping charges. eBay does not provide reporting for shipping labels. Well, maybe they do if you use pending payouts to pay for shipping - I don't have first hand info on that.

Whether you receive a 1099-K or not, you should be reporting on your taxes.

[katzrul15]

You're a long-term Seller and it is December.

You are just now wondering where reports might be found, due to a 1099k miscalulation that results in one likely being distributed/sent to you and the IRS?

No wonder this has been a mess for years.  The same 9 Sellers were the only ones dumb enough to Pay the taxes owed voluntarily w/o a 1099k potentially issued???

If you exceeded $20k sales for 2021, you just now realized it?  Unless you just sold 1 item for $18k, this makes no sense.

[m60driver]

Well excuse me, but I made a mistake and used the wrong figure to estimate my gross sales that included taxes that will generate the 1099k.  But in case you are uninformed, the issuing of a 1099K requires a lot more bookkeeping to file a Schedule C while without a 1099K one can just file net income under miscellaneous income on the 1040.  I always knew my net sales and I know my net profit margins so it did not require much bookkeeping to report net income.

And I have been playing around with the rather messy Ebay orders report and with some deleting, actually a lot of deleting of columns, and some copy and pasting, I have created a way to come up with a net that all I have to do is add in cost of goods sold.  What threw me off is that Ebay has orders and shipping in the same column.  In my way of thinking shipping is an expense that should be in a separate column.

[glasser]

I don't download reports. I start by tracking what I pay for items in a spreadsheet and then manually input sales and shipping. I only sell about 125 items a year and not all on eBay so it only takes me 20 minutes or so a week to keep up to date (if that much). I also rack other expenses-shipping supplies, etc.--on that sheet as well.