|Tue Apr 5 2011 09:41:05|
Amazon Sales Reports Not Helpful for Tax Reporting
By: Ina Steiner
Re: 1099K reporting article ("IRS Casts a Wide Net With New 1099-K Reporting Rules")
I am not surprised that Amazon has not responded regarding the 1099-k. I have had to change the way I do my bookkeeping because of this rule and Amazon has not been any help.
First of all they had a report page on the site where you could look at your monthly sales by year dating back to 2005.
In January they took that report off of the website leaving us in the dark as to how we will know what Amazon will be reporting for our monthly sales. We do not want any surprises at the end of the year. We had to actually go in and do our sales by day, which was a lot of work.
They have given us back "a" report but it only gives the monthly sales, of which does not add up to what we have.
Second the report does not show how much of our reported sales is shipping. How much fees the fees were by month or anything other than what they are "claiming" are our sales (including shipping).
In contacting them, their reply was to see my tax man. I am an accountant so I do not need to see a tax man. They told me in reply that they are trying to figure out now how they are going to do this but will not give us any reports other than the one report that tells us a monthly total.
I really would like them to get their act together. Since the totals do not match day by day totals, we really need to see what they plan to report.
Editor's note: See today's update to this story with Amazon's response to the questions raised in the initial news report.
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