Imagine if you wanted to look at your bank records, but you could only access information from the last 3 months. That's the challenge sellers face when downloading reports on eBay - they can only access data from the most recent 90 days.
An executive said this week eBay is working on extending reporting to a full year, but it may not come in time for tax time.
eBay sellers had always relied on the more robust PayPal reports when gathering information for IRS filings - but now, eBay has placed many more sellers into its own "Managed Payments" program.
The problem is compounded now that many states require eBay to collect sales tax on their behalf. eBay includes the sales tax it collects as sellers' gross payments when it sends Form 1099K to the IRS and state departments of revenue.
The issue was highlighted during a recent podcast in which a seller asked how to determine how much sales tax eBay had collected and reported on his form 1099K.
"eBay told me there's no way for me to go back to 2020 and see how much tax eBay collected on my behalf so I can deduct it from my 1099K."
The eBay employees explained solutions that might work depending on when they enrolled or were forced into Managed Payments - you can find their advice on the eBay for Business podcast
, January 12, 2021. It seems those enrolled in Managed Payments for only part of the year will have to look in two places - eBay Managed Payments reports, and PayPal reports.
As for other information, including traffic data, sellers will have to wait for eBay to expand its reports. Harry Temkin said of the eBay reports during the podcast, "The plan is to extend them beyond the 90 days to go to a full year. We know that's always been an issue. Being able to go beyond the 90 day window, and that's going to mean you don't have to do a download of your reports on a quarterly basis. You can look at traffic for a full year and be able to look at seasonality. That is definitely on our list for this year."