I was wondering if I should use a schedule C as well. I don't have receipts for most of my items, or if I do, they are mixed up with millions of others.
Involuntary Coach ban support group
- Thread starter LauraTracy
- Start date
TPF may earn a commission from merchant affiliate
links, including eBay, Amazon, and others
Do you report sales based on the date of the sale or when you get the money? I assume on a cash system, you would do it on when you get the money, but all my records are based on the date of the sale. I've had money released from December sales this week but I don't want to count those in this year if I don't have to. I won't know if the 1099 will match my records until I get it.
I have used schedule C for the past few years. It may be different this year with the 1099K as in years past I’ve not received a 1099K as my sales from each selling platform weren’t over $20k (or whatever the previous years limits were).
I’ve always based it on date of sale. I’m assuming the selling platforms won’t count it towards this year even though the money was released to you this year since the sale was in 2021. Don’t quote me on that though lol.
Since I report the income on my personal taxes I’ve not needed to include copies of receipts or anything but I keep record. It would probably be different if I turned it more into a proper business.
Im pretty sure the 1099K will show gross sales (grand total of goods, taxes, shipping collected from buyers) which you can then subtract all the fees and shipping labels and cost of goods. If you go into your reports on eBay they really break it down nicely So you can easily see your net sales which is what eBay has paid out to you.
I haven’t looked at the back end of Mercari / Poshmark yet but hopefully they start showing all the numbers as clearly as eBay does because that will really help people.
I think I got my answer. I downloaded my sales report from Poshmark for last year and it doesn't show the sales I made on the 28th and 29th of December. I didn't get paid for those until this year. So I guess those will go into this year. On ebay and etsy, I get my money a lot sooner, usually a day or two after the sale, so those might be accounted for on the date of the sale.
How interesting! Not what I would have predicted but makes sense. I sold something on eBay on the 28th and the funds look like they transferred to me on the 30th. Ever since eBay changed their payment processing I do get it much faster.
Ill have to remember at the end of this year in case I make a sale that overlaps into the new year with the transferring of funds.
The kids definitely did, I work so many extra shifts because we are so short staff, but they had a blast
Hi All. Doing ok with your ban so far this year? 
I counter offered someone’s offer for the first time and no response. (I don’t know if they can counter my counter offer 
). I feel both bummed (gotta wait longer for the bag to sell) and glad (a little annoyed/indignant that they asked for over 40% off!!).
I counter offered someone’s offer for the first time and no response. (I don’t know if they can counter my counter offer ). I feel both bummed (gotta wait longer for the bag to sell) and glad (a little annoyed/indignant that they asked for over 40% off!!).Hi All. Doing ok with your ban so far this year?
It's better to wait it out!
Also doing good on my ban. I'm still researching a little here and there but more so to make a list of items I want so I can stick to it! I'll try my best haha
Hi ML! I've been thinking about you a lot as well. The first semester was ok. Some anxiety for me about going into several buildings daily and what that could mean for my guys at home. The kids in school are not quite relating to each other and their teachers as they used to, and that's understandable... We are now back online for two weeks which is good and bad for all. Our kids need to be in school, but the cases in our area are higher now than at the peak in 2020. Our governor has declared a 30 day state of emergency. Each school system has decided what to do with their students. We'll see what happens when the two week period is over. I have decided not to worry about it until we get there. I just keep thinking of all the frontline workers... I can't imagine how exhausted they are.
I have exciting good news and not so good sad news. The vinyl sidings are finally going up on the house. It's only half done and looks so good! I panicked a lot when the trim came in which are "linen" and the sales guy convinced me it would look "fine".I decided to give it a chance and once the material came in it looked exactly what I feared it would look like: 80s computers bone color.
View attachment 5284510
The pic isn't great as it's overcast here. But yeah no bone or linen for us. Phew! So glad I got it changed last minute.
As for the sad news.. my nextdoor neighbors GSD has cancer in her lungs. It's inoperable. I don't know other details yet except the cancerous growths are the size of a cherry a two pea sized mass. I'm so sad. That dog is just as much as my dog cuz I walk her every day and she always comes over to hang out with our dogs.
Glad that you got it changed to what you really like. No reason to live with what you don't like.
Well that sucks. Some of us can't tell a good deal from a "sale".
Well, I think we had all agreed before
Yes we did. Now if only I had bags that could be considered as part of a secondary collection. Well, maybe my small, scratched up travel bags do even if they are leather? No? Asking for a friend.
