ebay managed payments - anyone using this future mandatory service yet?

[earlywynnfan]

Originally Posted by teza11

Another possible upside for sellers with more than 200 transactions and greater than $20k in sales is that the mid-year transition effectively resets the clock back to Jan 1. In other words, PayPal will base the issuance of their 2020 1099’s on sales from Jan 1 through eBays cut-over to managed payments. EBay will begin tracking and reporting 1099 sales from the go-live date of their managed payments program. So one could sell $39k between the two and not trigger a 1099. Just say’n. Not giving tax advice or encouraging anyone to not pay their taxes in full.

Jeff

Are you sure about this? Doesn't ebay count transactions and payments even though they go through paypal? If I rack up 19K via paypal, then 19K the new way, I'd imagine I'd get a 1099 from ebay for 38K. Another headache for my accountant!

[highgradelegends]

Originally Posted by earlywynnfan

Are you sure about this? Doesn't ebay count transactions and payments even though they go through paypal? If I rack up 19K via paypal, then 19K the new way, I'd imagine I'd get a 1099 from ebay for 38K. Another headache for my accountant!

Ebay and paypal do not coordinate or aggregate tax information. They are independent. PayPal is a fo financial institution. Ebay is not....well...until they have managed payments up and running. Bottom line: the temporary advantage stated here is correct.