E-Bay Card Sales

[bcbgcbrcb]

Has anyone been able to extract this info out of e-bay personnel yet? I have called three different times now and the reps just keep repeating their policy on sales tax and going around in circles.

With the upcoming changes in July regarding buyer payment methods being mandatory for certain seller accounts, I need to know if e-bay is accumulating all of the sales records regardless of payment method used by the buyer for income reporting purposes. My understanding was yes, e-bay will be doing all reporting from August forward with pay pal completely out of the picture. Furthermore, I need to know if e-bay will have similar threshold levels for IRS reporting as pay pal has had for the past several years, $20,000 in sales AND 200 transactions. Nobody has been able to answer this question for me over there.

[teza11]

Phil, the below eBay link does a pretty good job at explaining 1099 reporting and the cut-over from PayPal to eBay managed payments.

Jeff

https://www.ebay.com/help/selling/fees-credits-invoices/ebay-form-1099k?id=4794&st=12&pos=1&query=eBay%20and%20Form%201099-K&intent=1099

[bcbgcbrcb]

Thanks for posting that link, Jeff. When I click on it though, it takes me to an eBay listings page as if I wanted to buy eBay 1099 tax forms. Something seems messed up there. Is there any way that maybe you can copy and paste the entire text into this thread here?

[buymycards]

Here is a copy and paste.

If you’re a managed payments seller who has more than 200 transactions and generates more than $20,000 in sales in a calendar year, you’ll receive a Form 1099-K from eBay. This information will also be reported to the IRS and your state tax authority, where applicable.

Notice

If you need a detailed breakdown of your 2019 unadjusted gross payment transactions, please contact customer service.

[bcbgcbrcb]

Great, thanks, Rick!

Phil