Stealth Amazon Account and taxes?

[ersincemil]

Hello friends,

I have purchased stealth account the beginning of 2022 and have around 250-300k in sales until the end of 2022.

The original owner of the account was EU citizen for tax purposes it was filled W8-BEN on Amazon.

When I purchased account I was advised not to change anything (because of re-verification issue) and can only change bank account to receive payments to my LLC company bank account.

As the year ended and I will report all my LLC income and sales received to my bank from this account but I wont receive 1099k but I will still report my sales.

Can this be an issue? Any suggestions what I can do?

[e2free]

Bigger issue for you it will be funds in your Amazon account, the amount you doing on that account is big risk, when Amazon re verification email comes to you your funds will be frozen and to get your funds back they will more likely do video interview

These are the risk on amazon

[ersincemil]

Originally Posted by e2free

Bigger issue for you it will be funds in your Amazon account, the amount you doing on that account is big risk, when Amazon re verification email comes to you your funds will be frozen and to get your funds back they will more likely do video interview

These are the risk on amazon

Hello,

Thank you for your reply.

No, all funds are transferred to my LLC bank successfully and on Oct 2022 I stop selling on this account so there is no risk on Amazon side to hold funds.

[agent006140]

1099 is for US tax reporting to IRS,are you a US citizen?

[rsot]

Originally Posted by ersincemil

Can this be an issue? Any suggestions what I can do?

Seems like not much to do but just file your taxes and move on

[ersincemil]

Originally Posted by rsot

Seems like not much to do but just file your taxes and move on

Yeah thats for sure. Iam reporting all the income received to my LLC bank.

[SaiJin]

Originally Posted by ersincemil

Yeah thats for sure. Iam reporting all the income received to my LLC bank.

I'd say do the right things to mitigate your risks.

If possible spread out your sales too since that's quite a $ to run under 1 account.

[rsot]

Originally Posted by SaiJin

I'd say do the right things to mitigate your risks.

If possible spread out your sales too since that's quite a $ to run under 1 account.

SaiJin makes a great point about spreading sales over other accounts OP