200/20k.....

cherrqell · #1 01-21-2011

I really not sure how Amazon will determine these amounts. When figuring out the 20k part, will the shipping that they charge be included in the final amount that is on the 1099? So if you sell 19k in merchandise, and the shipping they charge the customer comes to $1001.00, will this mean you reached the limit, and you have the 200 transactions?

cardfelon · #2 01-21-2011

It is a total of $20,000 that comes into the account. It does not matter what the money is for such as product or shipping. They are obligated to report the total incoming amount and then it is your job to prove to the IRS that not all of it was income so its not taxable.

shenzhenthor · #3 01-22-2011

Already hit 200/20k in numerous accounts, not a single email or anything asking for SSN. So..guess they are not asking for it.

**TGMT²** · #4 01-22-2011

Quote:

Originally Posted by shenzhenthor

Already hit 200/20k in numerous accounts

Really?

You have made 20k on several accounts in 21 days?

The countdown started on January 1st, 2011

shenzhenthor · #5 01-23-2011

Several = 3, but yes. Stay away from the foo foo stuff and its easy to pump the sales thru amazon. I own the factory so I can sell there for the same price I sell to USA importers which gives me a huge pricing edge.