taxes & nonPayPal payments

[Deleted]

Starting to work on my taxes. Lots to do with balancing ebay/etsy sales that were paid thru paypal but what about other sites like tradesy or Shophers that either hold the funds on their site or deposit straight into your bank account? Do they send out 1099s?

[val2525]

If they deposit to the bank account they should send out a 1099, although it might be a 1099-MISC and not a 1099-K. K is for money services/processors. Just a guess, though. I don't really know.

[Deleted]

I did a google search and I came up with a link that said Tradesy sends out the 1099-K for over $20,000, like PayPal.

help.tradesy.com/article/166-earnings-and-taxes

BTW, a link to this thread also came up in my Google search results.

[Deleted]

I didn't get one from Tradesy, but my sales weren't great there. Nowhere near 20k! I just added it into other income.

[Deleted]

I believe the 1099 from paypal includes transfers from Tradesy.

[val2525]

If they only reimburse sellers via PayPal, they should not include the PayPal payments in the 1099k their processor (stripe) issues. Technically, anyway. I have no idea how they're handling it in reality.

[chapeaunoir]

I have a contract that never sent me a 1099 form for my work and we've had no luck obtaining them (long story) - I just added up my paychecks and am filing under another line item, other compensation or whatever it's called.