Most sellers know if they sell more than $20,000 and have over 200 transactions in a calendar year, PayPal will issue a 1099-K.
An eBay team member on 1/25 responded that they would get back to sellers about this question, but that team member has provided no further updates in the thread.
Since there have been more recent postings by sellers after the IRS deadline for issuing the 1099-K past, it seems eBay Managed Payments program may lag with the IRS requirement.
1099-K Not Required to File Taxes, But…
While sellers should know how much they sold through regular accounting of their sales and the 1099-K is not required to file business taxes, one wonders why the silence on the subject?
It is possible that few sellers reached this federal threshold with eBay Managed Payments, but there are states that have much lower thresholds starting at $600.
If eBay is having difficulties issuing the required document, the company should really communicate this information with sellers that opted into their eBay Managed Payments beta.
Failing to answer this question on an eBay community forum is not a way to build trust in the program.
If your sales exceeded the threshold to receive a 1099-K from eBay, did you get one? Please use the comments section below or head over to our Facebook Group for Small Business Sellers and interact with other small business owners.
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Please head over to our Facebook Group for Small Business Sellers and interact with other small business owners.
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