eBay

hiroprot · ‎02-25-2025

Deleted 120 listings today. Just discovered that 2025 threshold for 1099’s drop to $2,500 (and just $600.00 in 2026) and zero guidance regarding can you document what you paid for items later sold and document profit only as income vs IRS assuming your gross sales are all income. Im done with EBay until 2026. Ebay and similar sites will wither away to nothing soon unless this stops.

hiroprot · ‎03-03-2025

Thanks to help and information provided this forum it’s exactly what I’m doing, just had no knowledge how-and using what forms etc to document net profits vs having to pay tax on gross sales. Initial stuff i hadvread sounded like there was no established way to do that. Misinformation I first read.

mam98031 · ‎03-03-2025

@hiroprot wrote:
Thanks to help and information provided this forum it’s exactly what I’m doing, just had no knowledge how-and using what forms etc to document net profits vs having to pay tax on gross sales. Initial stuff i hadvread sounded like there was no established way to do that. Misinformation I first read.

I think we are liking still not getting the our information across to you. You do not EVER pay taxes on your Gross Sales, unless you fill out your taxes wrong. It is ALWAYS your Gross Sales, LESS costs [all costs] to = your Adjusted Taxable Income and that is what you are taxed on.

https://community.ebay.com/t5/Announcements/eBay-and-TaxAct-partner-to-help-you-navigate-new-Form-10...

https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses/income-expenses

https://www.irs.gov/businesses/gig-economy-tax-center

https://pages.ebay.com/seller-center/service-and-payments/2022-changes-to-ebay-and-your-1099-k.html

https://www.irs.gov/pub/taxpros/fs-2022-41.pdf

https://www.kiplinger.com/taxes/irs-free-file

mam98031 • Volunteer Community Member • Buyer/Seller since 1999