Hello all you tax wizards out there! I'm finally getting around to my taxes and i'm STUMPED!!
I'm short by thousands$$$ when I try make my sales add up to the $$ listed on my 1099. Help! Which CSV columns must i add together to arrive at the same sales amounts listed on my 1099? I must be missing something. i've kept refunds in the total. There must be a line item that i'm missing.
No matter how many ways i try to crunch the csv numbers on monthly downloaded data, the sales $$ i arrive at are always lower than what Etsy has declared on my 1099. What am i missing? You'd think i'd have this figured out since i've been doing this for years, but alas, here I am.
Can someone pretty please tell me which columns on downloaded CSV files I must add up in order to EQUAL monthly sales totals listed on my 1099?
Thanks so much for your help!
Thanks everyone. I arrived at the answer I needed:
Options/ Download Data/ Etsy Payments Sales/ Column E (Gross Amount).
The Gross amount ( Sum of Column E) = 1099 monthly sales amount.
One of the great mysteries of Etsy.
This might help explain some of it:
Because the 1099 is reported to the IRS, I would just use that number! You then deduct returns/refunds and shipping expenses elsewhere on your Schedule C.
Thank You Smudge Planet.
The video in the link is very helpful. Every year when preparing my taxes I second guess my calculations! I feel much more at ease understanding how and where all the numbers add up so I know I'm deducting everything correctly!
I found the downloaded csv file/column that corresponds to the monthly sales amounts on my 1099:
Options/ Download Data/ Etsy Payments Sales/ Column E (Gross Amount).
The Gross amount ( Sum of Column E) = 1099 monthly sales amount.
I was then able to cross check other totals and fees against what etsy posted and better understand everything
the CSV has everything, including refunds as a negative amount
the 1099K has all sales, and does not have refunds deducted
Thanks everyone. I arrived at the answer I needed:
Options/ Download Data/ Etsy Payments Sales/ Column E (Gross Amount).
The Gross amount ( Sum of Column E) = 1099 monthly sales amount.