does the tracking through PayPal for $600 cap include shipping and tax amounts?.

does the tracking through PayPal for $600 cap include shipping and tax amounts?. Also, I believe it is the gross amount before fees, etc removed but please confirm.

posted

Hi @goodejc! If you're selling goods through a platform such as PayPal, the 1099-K you receive from that platform should include all amounts charged to the customer, including tax and shipping. You can then deduct your sales tax and shipping costs as an expense on your return. You're also correct that the 1099-K will include the gross amount, before fees, adjustments for credits, discounts, or refunds.

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