How does PP calculate the total on the 1099 form and how do I see the transactions year to date?

[Patriceok]

How does PP calculate the total on the 1099 form and how do I see the transactions year to date that are included in the 1099 form?  I want to prepare if I am over the limit of $600.  I know I can download all my transaction monthly - but where is the YTD total?  How do I know which of the transactions are included?  Is it anything you created an invoice for and nothing else?  Is it just the $ amount of the goods sold?  Or do they include shipping totals?  I can’t find this basic information anywhere.  All I see is the verbiage that says they have to report anything over $600 - but what makes up what they report?

[LoriSPAR]

I REALLY hope someone answers this!

[PayPal_JonK]

Hello @Patriceok and @LoriSPAR, 

Welcome to the PayPal Community! I'm sorry to hear there's been some confusion regarding what is and isn't reported towards the 1099k. With the limit being $600, I can understand how this can be quite concerning. The 1099k includes total gross sales for all goods and services transactions in your account for the year. Here are some Help Center articles you may find useful: 

How does PayPal report my sales to the IRS? What are the Form 1099-K reporting requirements?
What if the amount reported on my Form 1099-K is incorrect?
 

I hope that helps!

 - Jon K

[LoriSPAR]

Thanks, I was looking for the report is all. Found it!

[PayPal_JonK]

@LoriSPAR, sounds good! Thank you for letting us know and best wishes this tax season! 

 - Jon K

[Patriceok]

I guess I am just dumb. I see the links in the article to get the 1099 after January 31.  I am looking to see a YTD total at any given time that shows me where I am in the progression to the 600 threshold.  I hope that makes sense.  I wanted to see what all was included in the $600 total.  Just the line items invoiced?  Or it also includes shipping?  Anything else?  If I sell an item for $10 and shipping is $5 - does $10 or $15 go in the $600 total?

[Patriceok]

Where is the report?  I see an article, but didn’t see an option to get a report?

[Patriceok]

Are they including shipping in the total?  Or just the line item pricing?  For instance:

Test Item A is $10

Shipping $10

Total of invoice $20

Does PayPal report $10 or $20 to the total of the 1099?

[PayPal_JonK]

Hi @Patriceok, these are great questions!! No worries at all, I'm happy to get you pointed in the right direction. 

In regard to your example on what's reported and not reported, the full amount received - including the item cost and shipping cost you collect - would be reported as that is the gross amount you receive for the transaction. 

While the 1099k is not made available until after Jan 31 of the following year, you can use the information in this article to Download your current activity or use the information in your Sales Insights page to get an accurate depiction of where you currently stand.

Also, here are some direct links to your Activity Download page and your Tax Document page if you need them.

I hope that all helps!

 - Jon K