Question

How do I calculate up the income that I receive with PayPal from eBay and eccommerce website?

Forum|Forum|7 years ago
June 6, 2019
1 reply
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My eBay and website both use PayPal as the payment processer. Do I add up all the payments from PayPal for website and do I add up the payments from eBay or PayPal for eBay? Or would I be fine just adding up the deposits in bank for total. Also do I include eBay/PayPal fees for the total?

TurboTax Free Edition Online

Critter

Employee

If those places report the Gross income then you must also report the gross income from your records. Then you will deduct the transaction fees as an expense.

If they only report the net after their fees then you will only report the total income net of fees.

T

tsmallsAuthor

I understand what your saying and sounds about right. I appreciate your time. If anyone else could chime in to back this up or add to the answer it would be very much appreciated, Thanks