Hello!
Excuse me in advance for a possibly very stupid question, but I cannot reconcile the yearly account statement generated by PayPal with the gross total on my 1099-K given by PP.
The "Total" of payments received is higher than the gross on the tax form, and I've called PP to find out which figures they use to come up with that reported gross and no one can tell me if they deduct certain items. They're deducting something to reach that lower gross figure, and I want to know if they deduct the "payment bill user payment" dollar amount (in my case eBay shipping and subscription reconciles with PP's number), the "fees", "Payment refund" in "Withdrawals and Debits", and "Shipping payment", which could come from my stand alone site. I've tried working the numbers every which way and cannot reconcile. It's a pretty simple question with big implications if I cannot use those items as deductions on my taxes (double dipping). I understand things probably aren't going to come down to the penny, but I need to know the formula they use in order to stay out of trouble during tax prep. Anyone know the answer? Many thanks in advance!
