02-14-2020 12:01 PM
PAYPAL adds SALES TAX COLLECTED to our Gross Income which we now have to pay Income Taxes on. eBay does not and WILL NOT provide us with an Invoice for total Tax Collected for 2019 so we have nothing to turn in with our Tax Forms and that makes it very difficult to deduct these Sales Taxes from our Gross Income. What's even worse is that eBay only keeps those Sales Tax Records for 90 days and deletes them. There doesn't seem to be anything we Sellers can do about it.
02-15-2020 03:25 PM
I downloaded ebay monthly to cvs and unfortuntly I have no program for cvs I can do pdf but that does not help me except for the invoices of ebay.
Mr lincoln did do a nice job with it also
02-15-2020 04:10 PM
02-15-2020 06:26 PM
@oldguy59 wrote:I downloaded ebay monthly to cvs and unfortuntly I have no program for cvs I can do pdf but that does not help me except for the invoices of ebay.
Mr lincoln did do a nice job with it also
If you downloaded eBay's CSV formatted database it will open in windows EXCEL or other spreadsheet programs. It can be manipulated like an .xls (spreadsheet) ...
02-16-2020 09:34 AM
02-16-2020 04:06 PM
@budstewart It's under 'online payments sent' on the 'financial summary' under 'reports' and is not just taxes, but also any money you sent or shipping you paid for, so you'll have to then manually add it up.
02-16-2020 05:28 PM
02-17-2020 11:32 AM - edited 02-17-2020 11:35 AM
@goldxxxsilver wrote:
Every Sale that has Sales Tax Included will be Added up Daily and at the end of 2020 will be a Deduction...Just another Step you should be Aware Of...I am not Aware of any Program that does it for you....Happy Selling...😀😀
of course... however, like to point out that those not in managed payments and receive all their ebay payments via payal, you won't get a 1099 from paypal unless you did $20,000 or more. If your in Ebay managed payments you get a 1099-K from ebay (not paypal) if you made $20,000 + or 200 transactions. Seems some people have been confused about this, so if you made $5K or $19,999 you won't get a 1099 from Paypal or ebay (unless you made over 200 transactions with ebay as stated).
However, you can configure many programs to keep track of the tax, i know you can with quickbooks.
02-18-2020 09:49 AM - edited 02-18-2020 09:52 AM
Three words, "Apache OPEN OFFICE" - Office Productivity Software Suite
The Spreadsheet program works fine with all eBay and Paypal CSV files.
You will have to learn how to import downloaded .csv files, and re-import them.
Its also FREE.
02-18-2020 12:57 PM
02-18-2020 01:04 PM - edited 02-18-2020 01:05 PM
@heyyoufoundit wrote:
"$20,000 + or 200 transactions."
It's $20,000 + and 200 transactions.
ah yes, correct