Amazon Payments 1099-K

[Dangjr213]

I thought I read on Dr of Credit that Amazon treated Amazon seller different transactions differently from Amazon payments but that does not appear to be the case. Received a 1099-K in the mail today.

224 transactions at $27k. $20k of the $27k was sending money A -B - C - A where A and B where both tied to my SSN. The 200 transactions @ $7k was a bunch of small dollar items I sold through FBA.

Not sure how I will address yet.

 

[Matt]

I thought I read on Dr of Credit that Amazon treated Amazon seller different transactions differently from Amazon payments but that does not appear to be the case. Received a 1099-K in the mail today.

224 transactions at $27k. $20k of the $27k was sending money A -B - C - A where A and B where both tied to my SSN. The 200 transactions @ $7k was a bunch of small dollar items I sold through FBA.

Not sure how I will address yet.

AP 200/20K is pretty standard as far as I recall.

You should certainly be reporting the transactions P/L for the $7K of FBA regardless of 1099...

 

[Dangjr213]

[QUOTE="Matt, post: 159569,

You should certainly be reporting the transactions P/L for the $7K of FBA regardless of 1099...[/QUOTE]

Was just surprised that AP combined three accounts into 1 1099-K (two AP accounts and my Amazon seller account).

Also a little worried that now my sales are over inflated my $20k so my tax return will appear to have an unusually low profit margin.