In my situation, I'm not required to collect sales tax for every payment. So now I have to sort all of these transactions, collected vs not collected, per 1099k (i.e.Venmo, Paypal, Stripe), just to find the number I'm excluding from gross receipts. (I'm reconfiguring my sheets to do this automatically for 2025).
I'm already finding discrepancies between whats reported by month on the 1099k from Venmo, against my own monthlies. There are transactions on my sheets that say I collected sales tax, but are not reflected in the monthly totals for the 1099k. Now I need to go line by line in Venmo to verify. What a mess.
Then theres still the question of how to correctly report. The fun never ends!
