Overlapping income reporting

[rgbsr65]

With the new $600 reporting limit initiated by the government, if both PayPal and eBay are required to report will there not be overlapping reporting of income since they are both on the same site?

[kensgiftshop]

@rgbsr65 

No, Pay Pal doesn't process the payments here, so you will only get a 1099-K from Ebay.

[dryophelia]

@rgbsr65 

If the seller qualifies, PayPal will issue a 1099 and Adyen will issue a 1099. 

The payment processor prepares them and sends them out. 

[computeraidllc]

No because Managed Payments processes all payments. If a buyer uses PayPal to pay for an item, it goes into eBay's PayPal account not yours. So you will only get one from eBay because that is where the sale and the payment processing occurred.

[fashunu4eeuh]

If your sales met the threshold for 2021 and if you didn't join Managed Payments until last year, you might receive one income report from PayPal and one from eBay (Ayden). There will be no overlap or duplicate charges between the two 1099K documents.

“…will there not be overlapping reporting of income since they are both on the same site?”

No. PayPal will report only the 2021 sales that took place before the seller switched to eBay’s new processor Ayden for Managed Payments. And the same for eBay who will only report the sales income after the switch. A buyer using PayPal to remit payment will have been processed by either PayPal or Ayden/eBay. One or the other, not both.

[caldreamer]

No, with new EBAY Managed Payments money no longer goes into your PayPal account.    You would only get 1099 from EBAY.