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Ebay managed payments and 1099-K

BigABigA Posts: 2,715 ✭✭✭✭

Curious....first experience with managed payments and direct transfer to checking account. It works great and PayPal is out of the picture (except for shipping costs which I have to address somehow) . They (PayPal) used to report the gross total of sales since they billed me separately for the fees but now they subtract the fees and send the result to my checking account....

Soooo....will they (Ebay) report what I actually received or the total before fees deducted.

I checked their site and it says "Gross receipts will be included" but gross receipts could be just that....what I received not sales numbers

Comments

  • jmlanzafjmlanzaf Posts: 20,797 ✭✭✭✭✭

    @BigA said:
    Curious....first experience with managed payments and direct transfer to checking account. It works great and PayPal is out of the picture (except for shipping costs which I have to address somehow) . They (PayPal) used to report the gross total of sales since they billed me separately for the fees but now they subtract the fees and send the result to my checking account....

    Soooo....will they (Ebay) report what I actually received or the total before fees deducted.

    I checked their site and it says "Gross receipts will be included" but gross receipts could be just that....what I received not sales numbers

    I assume the 1099 will be the same s paypal because it's an IRS form which means total received before deductions. But if you look at their monthly statements, they break it down so it's easy to file the schedule C

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