Etsy is required to issue a 1099-K form to you and the IRS if you meet both of these requirements:
- You had $20,000 USD in sales through Etsy Payments during the calendar year.
- You received 200 or more transactions through Etsy Payments over that same period.
If you meet both these thresholds, Etsy will email you towards the end of the calendar year to ensure that your taxpayer information and mailing address are correct.
We did not meet those requirements, so we do not have a 1099-K
So again we well $10.00 we pay $.80 cents in taxes, and we pay $1.20 in fees this means
we only get $8.00 in return. So did we sell $9.20 in actual sales. I am still not sure how to handle the tax's
it must reduce the total about in money we received.
Do I take the gross sales and subtract the tax's and that becomes gross sales, then the fees are listed as expenses.
