1099 from ebay but shipping costs where included

[Anonymous]

Hello, how does that work? I sold a few things on ebay this year and they 1099ed me fantastic not only did I pay tax when I bought the stuff I pay again when I sell it. The problem is I didn"free shipping" say $30 for something and they shipping cost me $19 flat rate the form the sent is including shipping costs not really just the sale of the item. Anything I can do about this? Seems not only not fair but unethical since the USPS got a big chunk of the money they are claiming I made. Thank you.

[Anonymous]

You can deduct your costs, including postage.

[Anonymous]

Anonymous wrote:You can deduct your costs, including postage.

How can I do that? I use the 1040 form to submit my taxes. Thank you..

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can deduct your costs, including postage.

How can I do that? I use the 1040 form to submit my taxes. Thank you..

Schedule C

[Anonymous]

Shipping is a deductible business expense. It’s gross receipts and you’ll add to deductions along with supplies, marketing, lease (if any) , etc. Schedule C is for your business whether sole prop or other entity

[Anonymous]

Good question, OP.

I do not sell on eBay as a business. However, this year I sold a bunch of stuff that I purchased years ago at retail price that my teens no longer want (mostly AG doll clothes and Halloween costumes). The eBay selling price was significantly less than retail so I didn't profit. Should I still be paying tax on the eBay sales or should I try to estimate the original prices and use that as my cost basis?

[Anonymous]

Ebay isn't going to do your taxes for you. If you don't like to complicate your taxes better to sell for cash locally.

[Anonymous]

Anonymous wrote:Shipping is a deductible business expense. It’s gross receipts and you’ll add to deductions along with supplies, marketing, lease (if any) , etc. Schedule C is for your business whether sole prop or other entity

Can you make deductions if I don't own a house I rent an apartment? I thought I couldn't thank you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Shipping is a deductible business expense. It’s gross receipts and you’ll add to deductions along with supplies, marketing, lease (if any) , etc. Schedule C is for your business whether sole prop or other entity

Can you make deductions if I don't own a house I rent an apartment? I thought I couldn't thank you.

If you sold $20,000 worth of stuff on eBay -- the amount that gets you a 1099 -- you should go down to H&R Block and get some tax advice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Shipping is a deductible business expense. It’s gross receipts and you’ll add to deductions along with supplies, marketing, lease (if any) , etc. Schedule C is for your business whether sole prop or other entity

Can you make deductions if I don't own a house I rent an apartment? I thought I couldn't thank you.

These are deductions for a business expense. It has nothing to do with where you live. So if you make $8000 on eBay, and you paid $2000 for the merchandise plus $900 in fees and $200 in supplies, then you subtract out (deduct) the expenses from your sales. So you are only paying taxes on $4900 income ($8000-$2000-$900-$200)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Shipping is a deductible business expense. It’s gross receipts and you’ll add to deductions along with supplies, marketing, lease (if any) , etc. Schedule C is for your business whether sole prop or other entity

I sold $3000 and got a 1099 so it doesn’t have to be 20,000





Can you make deductions if I don't own a house I rent an apartment? I thought I couldn't thank you.

If you sold $20,000 worth of stuff on eBay -- the amount that gets you a 1099 -- you should go down to H&R Block and get some tax advice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Shipping is a deductible business expense. It’s gross receipts and you’ll add to deductions along with supplies, marketing, lease (if any) , etc. Schedule C is for your business whether sole prop or other entity

Can you make deductions if I don't own a house I rent an apartment? I thought I couldn't thank you.

If you sold $20,000 worth of stuff on eBay -- the amount that gets you a 1099 -- you should go down to H&R Block and get some tax advice.

Thanks to Biden it's now $600 in sales that gets you a 1099. Maybe before you try and insult people you should get your facts straight.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Shipping is a deductible business expense. It’s gross receipts and you’ll add to deductions along with supplies, marketing, lease (if any) , etc. Schedule C is for your business whether sole prop or other entity

Thank you!









Can you make deductions if I don't own a house I rent an apartment? I thought I couldn't thank you.

These are deductions for a business expense. It has nothing to do with where you live. So if you make $8000 on eBay, and you paid $2000 for the merchandise plus $900 in fees and $200 in supplies, then you subtract out (deduct) the expenses from your sales. So you are only paying taxes on $4900 income ($8000-$2000-$900-$200)

[Anonymous]

You only owe if you sold the items for more than you paid. And yes you can deduct shipping.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Shipping is a deductible business expense. It’s gross receipts and you’ll add to deductions along with supplies, marketing, lease (if any) , etc. Schedule C is for your business whether sole prop or other entity

Can you make deductions if I don't own a house I rent an apartment? I thought I couldn't thank you.

If you sold $20,000 worth of stuff on eBay -- the amount that gets you a 1099 -- you should go down to H&R Block and get some tax advice.

In 2022 it's $20,000. And do you not want people to pay their fair taxes?








Thanks to Biden it's now $600 in sales that gets you a 1099. Maybe before you try and insult people you should get your facts straight.