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Used to be you could contact the seller directly by asking for an email or phone number. Ebay now runs search algorithms to block the exchange of that information because with that contact information, sellers were then able to sell outside of ebay and thus avoid paying the sales fees. Of course there are ways to circumvent that system if you're so inclined.
Quoted from Playdium:You better plan on having decent bookkeeping skills to maintain your records. Their reporting is horrible.
Their reporting system is horrible for a reason. Always has been. They don't want to make it easy for you to see what you are actually paying per transaction.
Quoted from Playdium:First off, beware of the 1099 that Paypal sends you. These totals INCLUDE the items selling price, the shipping charged, and any tax collected. You must deduct the shipping, tax collected, shipping supplies cost, Paypal fee's, and Ebay fee's to establish your taxable income.
I keep a ledger of items sold with shipping costs. This helps at the end of the year to have your total shipping expense.
Of course, when filing taxes a Schedule 1 Form and Schedule C Form will be required to show Business Income. Best to have a professional do the taxes.
This is news to me. I've never gotten a 1099 from Paypal. Why is that?
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