eBay

1nicebuy · ‎10-08-2024

I know the 1099-K total does NOT include sales tax charged by Ebay (not the seller). I've not got a 1099-K before but expect to for 2024 and am curious does the 1099-K total include the total BEFORE the Ebay fees so you have to include those fees as an expense item on your taxes?

Which report shows the total that should match the 1099-K gross total? In Payments > Reports > Set start/end date to the year it says "This shows your order proceeds before deducting fees" But I could swear I saw a summary screen somewhere that showed YTD sales in a big green number in the upper left that is higher than what the Payments Order Total reflects? I can't find where it is but assume that total must be before fees and that total would be the one they use for the 1099-K?

nobody*s_perfect · ‎10-08-2024

@1nicebuy wrote: ... does the 1099-K total include the total BEFORE the Ebay fees so you have to include those fees as an expense item on your taxes? ...

Yes. The total on the 1099-K includes all funds that buyers sent to you for item price, shipping and handling. eBay doesn't subtract any expenses, such as eBay fees, postage, or refunds given to buyers -- those are all deductible expenses on your tax return. Take a look at Schedule C and its instructions to get a better idea of how the IRS sees it.

stainlessenginecovers · ‎10-08-2024

It is simply the 'gross' a buyer paid YOU. It does NOT exclude Fees, Shipping Labels etc.

In Seller Hub

hover over Payments Tab

Click 'reports'

First on left is 'gross sales' (the little i; hover and tells you it's 'orders not including fees')

You can change the dates from 'this month' to last month' or dates 1/1/2024 to today (or do end of year, 1/1/2024 to 12/31/2024

You can also see 'fees' and 'refunds' (key write off items from that gross.

This amount is CLOSE, but is not always accurate as the amount on the 1099 is the amount they've actually sent you, so on Jan 1, 2024 can also included 'sales' done the last few days of December 2023; same with sales done this year on 12/30/2024, 1 2/31, 2024 (or thereabouts) will NOT show on the 1099 as they haven't SENT you that money yet.

Best to just keep track on a daily basis (books) and even better to just wait for the 1099 (if this is the only place you sell, that is the # the IRS will get and it's always best (better shot of NOT getting audited) to 'match' that number (doing over is almost always ok, if you include 'other venue sales' that do not give you a 1099; but showing less is a good formula for an audit)

1nicebuy · ‎10-08-2024

Think I found it. Under Performance > Sales > Set time period to year in question

First figure is Total sales (includes taxes)

Second figure is taxes and fees (not including ebay selling fees)

Assuming Ebay collected all taxes and fees on seller's behalf, I assume the 1099-K gross sales should be the first figure Total sales including taxes minus the second figure, taxes and fees?