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How to put paid fees, shipping, promotion fees when I sell on Mercari, eBay and Poshmark

Forum|Forum|6 years ago
February 9, 2020
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I sell on eBay, posh mark and mercari. Do I need to put each description separate? In other words, eBay fees on one line, posh mark on one line and Mercari on one line. I would run out of lines. Next, I would put shipping separate or add all 3 and do one line entry? So, I guess my question do I do one entry add all the fees say for postage and put on one line and next all the shipping fees one line entry.

Best answer by AnnetteB6

Yes. If you are reporting all of your income and expenses from selling on those sites as a single Schedule C business, then you should combine all the 'like-kind' categories of expenses together and make a single entry. For example, one entry for all shipping costs across all of the sites.

In your own records, you will have it separated out, but it does not have to be separated on your tax form.

DavidS127

Use one line for each type of fee you pay.

Make sure the fees were not already deducted from the income you reported, to avoid double counting.

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T

tommy8849Author

When you said to put each fees one line entry are you saying to add all shipping charges for eBay Mercari and Posh and put the total? Same for any other fees add all and do one entry? I understand make sure they have not been deducted from income.

A

AnnetteB6Answer

Yes. If you are reporting all of your income and expenses from selling on those sites as a single Schedule C business, then you should combine all the 'like-kind' categories of expenses together and make a single entry. For example, one entry for all shipping costs across all of the sites.

In your own records, you will have it separated out, but it does not have to be separated on your tax form.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"