Appears eBay is going to cause multiple headaches for a lot of sellers.
First of all, they apparently did not opt to stop sending 1099-K forms this year for sellers receiving over $600 and they actually did start sending out the forms anyway. At least I did get them for both of my selling accounts although they would not have been required under the previous laws/rules. The forms are available electronically in your seller Hub under the Payments tab.
I kept detailed records for the year and the total reported by eBay do not match my total, they are off by a slight amount.
Secondly, eBay's generation of the 1099-K forms has serious issues. Apparently they issued the forms to seller's personal name instead of a business name where registered and they reported it under their personal SSI# instead of their EID# for the business. No one knows how they are going to correct this or how the IRS will handle them. Here's a link to the Ecommercebytes article
https://www.ecommercebytes.com/C/blog/blog.pl?/pl/2023/2/1675305757.html
eBay will be holding an online chat session covering the 1099-K forms on Friday, Feb 8th at 1:00PM PT.
https://community.ebay.com/t5/Monthly-Chat-with-eBay-Staff/Monthly-Chat-February-8th-at-1-00-pm-PST/m-p/33528066#M29841
And by the way, the eBay Winter Seller Updated announced seller fees are increasing Feb 15th!!!
Wonder what else lurks around the corner with eBay?
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