Huge discrepancy on 1099K form

[recycleyourself]

Hi, I see that actual My eBay sales report for 2024 shows almost 4X in sales more than what my 1099K form reflects. How can the discrepancy be that much? How can my 1099K only show about 1/4 of my sales? First time doing eBay taxes, any help is appreciated!

[wastingtime101]

I suggest you start by downloading the 1099-K Details Report which will show you exactly what was included on your 1099-K and go from there.

You can go to this page and generate a CSV report and you'll see what's counted on your 1099-K at the transaction level.  https://www.ebay.com/sh/fin/taxdetails

"Your 1099-K Details report shows all the orders that factored into your gross amount of payments. The report also provides other details, such as transaction fees, which may be relevant when preparing your taxes."

There's a guide published here where you can further drill down and get reports for expenses and refunds: https://www.ebay.com/mes/taxguide?sh=true

[caldreamer]

Not sure what "sales report" you are looking at.   EBAY has "easy to read" 1-page report that shows YTD totals for (orders, refunds, EBAY fees, shipping expense).   Go to PAYMENTS, REPORTS (select LAST YEAR).

This report should agree with totals shown on your 1099 (there may be a difference of a couple of bucks).   IRS requires that you report "gross income" amount as shown on 1099.

GROSS INCOME (as shown on 1099)

-Refunds

-EBAY fees

-Shipping expense

-Other expenses (cost of goods, mileage, packing materials, office supplies)

NET TAXABLE AMOUNT

[recycleyourself]

Thank you, I found the problem!

[recycleyourself]

Thank you! I found the problem!

[stainlessenginecovers]

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@recycleyourself wrote:

Thank you! I found the problem!

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@recycleyourself so....what was the issue?