eBay form 1099 need help.

[usaphstore]

I just started selling more this year on eBay and I see that I will be getting form 1099 for the first time. My question is that is there a line someone where to put how much I spend on the items I sold and all of my other cost?  Thank you. 

[slippinjimmy]

When you file your 2022 Tax Return you need to complete Schedule C.

https://www.irs.gov/forms-pubs/about-schedule-c-form-1040

[kensgiftshop]

How did you do your taxes last year, you do it the same way.

[conspecmaterials]

You can create an excel spreadsheet where you can show your item costs, shipping, fees, taxes, sell prices etc and bring to your accountant.   If you dont have an accountant then you better find one since they hired 87,000 new IRS agents this year the govt will be coming for their tax money now.

[chaos215bar2]

Sure, great.

And if you’re a small time seller, consider just dumping your inventory on Goodwill and taking the tax write-off. Quick, easy, and you don’t have to worry about proving to the IRS that a few thousand in sales are not, in fact, pure income.

It’s idiotic that the IRS is now going after people selling a handful of items on eBay. But of course they would. Easier to go after a bunch of small fry who could never justify, let alone afford to hire a lawyer than to go after billionaires and big business.

[mega-ma-roo]

There is a lot of good information on this page set up by eBay and TaxAct:

Ultimate Tax Resource for eBay Sellers | TaxAct Blog

Especially see this section:  eBay Seller FAQs and Unique Scenarios Explained | TaxAct

You've got a lot of time to read up on this, so you may decide this is something you can handle yourself. It's really not that complicated.