The requirement to pay taxes on profits you make from selling stuff
isn't new. Companies like Ebay (and Etsy, Paypal, Venmo etc.) being
required to report your earnings to the federal government is new. This
can seem really overwhelming if you've nev...
Trying to make sense of the 1099K. Is the amount reported the total
amount of the sale, or the amount of the payout sent by eBay?More
specifically - does the amount on the 1099K include ebay's transaction
fee or sales tax collected by ebay? And does ...
Is there a way to set the listing template to uncheck the "sell
internationally" box by default? When I click "sell similar", eBay
automatically rechecks the sell internationally box. Seems like if I
don't sell internationally, I should have the opti...
I've got the same thing. I just called and spoke with a customer service
agent who said it's a known issue affecting many accounts and hopefully
I'll still get my weekly payout tomorrow. "Hopefully".
Registering as a business with your state or locality, and receiving
income that the IRS considers "business income" are two different
things. The IRS has rules for determining whether your non-wage income
is from a hobby or a business. One of the ke...
"Keep in mind you have MORE expenses to deduct that just your shipping
charges and fees."Yes, of course - I was just referring to the expenses
that would be included in the amount the buyer pays. I think that's
what's confusing sellers - eBay is serv...
The IRS publishes this guide for gig workers (including online sellers)
which gives some guidance about how to file taxes.
https://www.irs.gov/businesses/small-businesses-self-employed/manage-taxes-for-your-gig-work
It seems that the amount appears higher because it isn't the amount you
received in your payout. It's the original amount the buyer(s) paid
BEFORE you paid for shipping and eBay fees.For example - I sold an item
for $200 with $29.61 shipping. The ent...
