@toyetictoys wrote:
On our 1099-k report from Paypal, do we still need to deduct the taxes eBay collected? Or does our yearly gross amount already have taxes deducted?
On Ebay's tax information section, they make it sound like we just download our tax document and everything is already sorted for us. I just want to make sure that is indeed the case. Thanks
I would not trust eBay to give me complete or accurate information about either PayPal or my taxes.
My understanding is that your 1099-K from PayPal will include any money that was deposited in your account, which after Nov 2019 will include the sales taxes that were part of the payment sent to PayPal and then immediately deducted and returned to eBay as a separate "partner fee" transaction.
