What do I print out for taxes?

[cupcake0113]

Last year, I printed out WAY TOO MUCH STUFF. There has to be a printout of everything for the year that I can save ink. I don't do the seller's hub, I'm not doing a business. I just sell to get rid of things. So, could someone walk me through the steps of how to get to a printout of everything I need to give to my accountant?

Also, I got a message saying that I did not receive a 1099 K, so do I need to print anything out at all?

Thanks

[stainlessenginecovers]

Well, you need to 'do the sellers hub' if you want to print 1 simple page. 

Go to seller hub and at the top, hover over 'performance'- then click 'Sales' 

Top left, where it says 'Last 31 days'- click and at the drop down, click' last year- then click blue on right 'Generate Report'

It will change. 

Then click 'Print Report'. 

This will give you all gross sales, and costs (fees and shipping labels- UNLESS; you purchased labels elsewhere, then you would need to have those receipts or find where you bought and find a report for 2024. 

[kensgiftshop]

The reports you want are located in the Seller Hub.

[cupcake0113]

Thank you for your help.

[mam98031]

Now something that helps me on this site is to refer back to the Policy page for whatever it is that I'm trying to figure out.  There is often the answers.

What's included in Form 1099-K

Form 1099-K is an IRS information return that includes the gross amount of all reportable payments within a calendar year. This is based on when gross funds are processed to eBay, not necessarily when funds are received by sellers. This amount does not include any adjustments, for example, credits, discounts, fees, refunds, or any other adjustable amounts. However, sales tax and canceled transactions are excluded from the gross amount reported. You should check with your tax advisor to decide how best to use the information on your Form 1099-K when filing your personal and/or business income tax return.

My Note on the above highlighted statement:  It excludes Cancelled transaction that were NOT ever PAID.  Cancelled transactions that were paid and you refunded ARE in the 1099K numbers.

https://www.ebay.com/help/selling/fees-credits-invoices/ebay-form-1099k?id=4794

What can really help is a report Ebay offers that will tell you EXACTLY what the 1099K numbers are made up of.

1099-K detailed report

To help understand the transactions included on your Form 1099-K, you can download a 1099-K detailed report. The report provides a detailed breakdown of all unadjusted gross payment transactions on your 1099-K form.

Here's how to download your 1099-K detailed report in Seller Hub:

1. Go to the Payments tab - opens in new window or tab in Seller Hub.
2. From the menu on the left, select Taxes.
3. Select 1099-K details.
4. Select Generate.

Here's how to download your 1099-K detailed report in My eBay:

1. Go to Payments - opens in new window or tab in My eBay.
2. Scroll down to Payment reports and taxes.
3. Select Form 1099-K.
4. Select Request 1099-K detailed report.

Once your report is available to download, you'll be notified by email.

If you have specific questions about reconciling the amounts on your Form 1099-K, we recommend you speak with a tax professional.

For myself, I download the Transaction detail report.  It has a lot of columns I don't need, so I sort it down to just the info I want.  Then I subtotal each month.  Comparing that to the 1099K numbers I can easily see which number are not represented in the 1099K due to refunds, fees and shipping charges.

Transaction Reports Found in this link below.

https://www.ebay.com/sh/fin/reportslanding

[caldreamer]

EBAY has "easy to read" 1-page report that shows YTD totals for (orders, refunds, EBAY fees, shipping expense).   Go to PAYMENTS, REPORT (select LAST YEAR).   IRS requires that you report "gross income" as shown on 1099 or Orders on EBAY report.   When you file taxes as a "business" you can deduct business expenses as shown below.

ORDERS

-Refunds

-EBAY fees

-Shipping expense

-Other expense that you keep track of (cost of goods, mileage, packing supplies, etc)

NET TAXABLE INCOME