eBay Tax Statements

[Brian Van Horn]

Interesting. That said going back to $20,000 would bring a lot of inventory back to eBay.

[Mark17]

If people pay their taxes as they are required by law to do, it doesn't matter whether or not ebay reports sales. I've been selling on ebay since 1998, and reporting sales on my tax returns, and have had no problems. If I am ever audited, sales records are quite easy to produce.

Bottom line, pay your taxes and sleep well at night.

[Brian Van Horn]

Originally Posted by Mark17

If people pay their taxes as they are required by law to do, it doesn't matter whether or not ebay reports sales. I've been selling on ebay since 1998, and reporting sales on my tax returns, and have had no problems. If I am ever audited, sales records are quite easy to produce.

Bottom line, pay your taxes and sleep well at night.

In complete agreement.

[bobbyw8469]

Originally Posted by Mark17

If people pay their taxes as they are required by law to do, it doesn't matter whether or not ebay reports sales. I've been selling on ebay since 1998, and reporting sales on my tax returns, and have had no problems. If I am ever audited, sales records are quite easy to produce.

Bottom line, pay your taxes and sleep well at night.

I produced sales records and I still got audited. It has been a nightmare. I have zero idea why I was singled out.

[raulus]

Originally Posted by bobbyw8469

I produced sales records and I still got audited. It has been a nightmare. I have zero idea why I was singled out.

Typically you get picked either because an algorithm flags your return based on something abnormal in your return (like claiming deductions or credits that are really gigantic), or because you just get lucky by being randomly selected. Without knowing everything in your return, it’s hard to tell which element came into play for you.

And yes, they are almost always good fun. Hopefully you are able to get it resolved without too much financial pain.

[OhioLawyerF5]

Originally Posted by Mark17

If people pay their taxes as they are required by law to do, it doesn't matter whether or not ebay reports sales. I've been selling on ebay since 1998, and reporting sales on my tax returns, and have had no problems. If I am ever audited, sales records are quite easy to produce.

Bottom line, pay your taxes and sleep well at night.

It appears some people think that if they don't get a 1099, they don't have to pay taxes on that income. They are wrong, of course, and will not have a fun time if audited. But they think it anyway.