The Seller Ledger Blog
Tackling challenges in bookkeeping for eCommerce sellers
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Navigating 1099-Ks for small sellers
As of the writing of this article, it appears likely that the lowered 1099-K threshold of $600 in gross payment amount will go into effect for tax year 2023. This is causing much anxiety among small sellers, and with good reason. To help illustrate how much confusion and complexity is about to be created for…
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1099-Ks are inconsistent – but that’s ok
Back when we first launched, we wrote a blog post about 1099-Ks and where sellers can expect to find the amounts that make up the total in Box 1a (Gross amount of payment card/third-party network transactions.) At the time, we were referencing eBay’s calculations. But, as we approach the end of the tax year, we’ve…
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Consignment Sales and 1099-Ks
As part of our efforts to further research interesting 1099-K scenarios, we wanted to explore a question that many resellers have recently asked about: consignment sales. What are consignment sales? A consignment sale happens when a reseller (called the consignee) helps another individual or business (called the consignor) sell some of their products for them.…
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