The Seller Ledger Blog
Tackling challenges in bookkeeping for eCommerce sellers
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1099-K threshold for 2024 confirmed at $5,000
Earlier this week, the IRS confirmed that the 1099-K reporting threshold for 2024 will indeed remain at $5,000, “regardless of the number of such transactions.” As a reminder, payment platforms must report “gross amount of aggregate payments” in excess of that threshold. If you sold more than $5,000 using any payment platform, you should expect…
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eBay fees too high? It depends.
One of the most common complaints we see among small eCommerce sellers is that eBay fees are too high. As are fees at Amazon, Etsy, Poshmark and other eCommerce marketplaces. This becomes especially common whenever new fee increases are announced. While price increases often produce an emotional response (we are only human, after all –…
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eBay 1099-Ks are coming…electronically
Yesterday, we received the following email stating that eBay’s 1099-Ks are coming electronically for 2024. Understandable confusion – but don’t worry First, this email was received for a seller account that only sold personal items this year. This might raise concerns that personal sales may get reported as “taxable.” But that’s not the case –…
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