Need help making sense of paypal statement reports for filing taxes
Hello, I'm trying to reconcile taxes for the end of the year and am having a difficult time with Paypal. Since I sell through eBay and get paid through paypal I need to generate an annual sales report to figure out how much I actually made vs what was taken out for eBay fees, paypal fees and shipping labels. This is complicated since my 'Total Payments Received' accounts for everything taken in, including those fees.
Does anyone know what the descriptions mean in the paypal sales reports specifically under 'Payments Sent' for the following descriptions?: 'Express Checkout Payment' 'General Payment' 'Tax collected by partner' 'Payment Bill User Payment'?
This would help me figure out what I can write off and what I actually made. Any help is greatly appreciated!