In a very refreshing change of pace, eBay is on the ball and has already responded acknowledging the issue - if you received a notice from eBay about a 1099-K for 2022, Kyle@eBay says you can safely disregard.
we wanted to share some info we got from our tax team on this subject. Here is what they said:
"We are aware and are currently working on getting the erroneous forms removed
We did not report this income to the IRS in previous years and will not be including this year
Sellers can disregard the 2021 or 2022 forms generated on 1/26/24"
It's that time of year again where sellers are receiving 1099-K tax forms from the marketplaces where they do business, but some sellers are perplexed as they say eBay issued their forms for tax year 2022 a year late!
Multiple sellers in the eBay community report receiving two 1099s from eBay this week, one for 2023 and one previously unissued one for 2022.
I have received my 2023 1099k on the 26th. At the same time ebay issued a 2022 1099k too! This is causing me to amend my taxes. By law they have to have all information provided to the seller by jan 31st. I don't understand why they are a year late on the 2022 1099k. Has this happened to anyone else???
This happened to me too, I’m perplexed by it, because I didn’t meet the selling requirements for that year, now like u I am going to have to deal with it. I called eBay, and they were clueless-no help whatsoever. They said let me transfer you and hung up on me, I would think they would be subject to fines for this , 1099’s are supposed to be sent by January 31 st of that tax year, not a year later. Someone really goofed here.
I just received both 2022 and 2023 as well.
So far all 3 sellers who report this issue appear to be located in Missouri, which is particularly interesting because eBay had a very similar snafu with 1099-Ks for Missouri sellers in 2022 with 1099-Ks being issue for both 2020 and 2021.
Other helpful sellers in the community pointed to the Payments page where sellers can confirm the date their 1099-Ks were actually generated by eBay and suggested contacting the IRS if in fact eBay was a year late in issuing these required forms.
What does it show as the generation date for the 1099? If it was after 31 January 2023 for the 2022 Tax year 1099 then call the IRS at 1-800-829-1040 and report the issue there are fines for eBay not meeting the issuance deadlines.
There may not be a need to amend your taxes unless the gross amount on the 1099 is different from the gross amount you had entered on the Schedule C.
if your 1099-Ks for 2022 were not issued until today per the 'date generated' column, I suggest following the advice posted above from dbfolks and report the problem to the IRS.
Just verify you didn't miss anything like a physical form mailed last year or a notice from eBay in your email. Cross the Ts and dot the Is before contacting the IRS because if eBay did issue the forms on time, the IRS will have records.
On my page I do have some 'off' dates generated, but it's not because I got the forms late. It's because I was an early adopter of managed payments, and once eBay onboarded the bulk of the site in summer 2021 they had to re-upload 3 years of past 1099-Ks so they show the re-upload date instead of the original issue date. My point is to double-check in case yours is a re-upload situation.
I agree with above posters that a late 1099 shouldn't have much, if any, impact on your reported income last year so hopefully this is nothing more than a very minor inconvenience to cross-check the numbers.
At least one of the affected sellers has confirmed that eBay is showing "issued for 2022 on 1-26-24".
We've reached out to eBay and will update as soon as we have more information about this issue.
In the meantime, if you've received a 1099-K from eBay this week for tax year 2022, leave a comment below and let us know what state you are in!