1099k be sent to the Beneficial Owner in Single member LLC?

[stealthnorris]

Wondering if anyone knows to whom the 1099k will be issued to when signing up for a single member LLC.


will it be the person who opened the account?

or the Beneficial Owner that you have an option of putting when signing up for MP and using single member LLC.

[phaz0rz]

LLC name + EIN. It won't mention your name or any other name on the account.

[goldfish]

Do you have experience of receiving 1099k
From PayPal or Amazon?

I understand it works fine on Amazon
I can confirm I got 1099k with ein there no problem
They just issued it under llc name & ein
No mention of Amazon ac holder name

I can’t remember what I chose in tax interview on Amazon
Though. Wether I chose single member llc or Corp



As no one has got ebay 1099k yet

[stealthnorris]

Originally Posted by phaz0rz

LLC name + EIN. It won't mention your name or any other name on the account.

How sure are you about this and regarding single member LLCs?

I am reading a lot of contradicting things on this forum AND online especially with Single Member LLC's.

Single Member LLC's are "disregarded entities" which means they are treated as sole proprietors. Which means the 1099k will be issued to the account holder.

[yankee]

Originally Posted by goldfish

As no one has got ebay 1099k yet

Virtually everyone had a 2020 1099k from ebay.


1099 will ALWAYS come in the name of the entity. LLC, CORP, TRUST, LLP, Etc.... Always the entity name.

[phaz0rz]

Originally Posted by stealthnorris

How sure are you about this and regarding single member LLCs?

I am reading a lot of contradicting things on this forum AND online especially with Single Member LLC's.

Single Member LLC's are "disregarded entities" which means they are treated as sole proprietors. Which means the 1099k will be issued to the account holder.

100% sure. I have several years of 1099's from Paypal and last year got them from eBay as well. Yes they're disregarded entities but they are still entities with their own tax ID, so that's what is used. How could your company be "limited liability" if the tax forms are printed with your name and SSN on them?

[goldfish]

Thank you you yankee for clearing that up
For every one. There is just you & afew others
Here who know a lot & help

But I wouldn’t say virtually every one got 1099k from ebay 2020 cus not everyone was on managed payment 2020.

For 2020. If they got 1099k it would have been PayPal

I got invited to mp on couple accounts 2020 but I don’t enroll
Just continued using the accounts with active listing
With large quantities.

[yankee]

Originally Posted by goldfish

Thank you you yankee for clearing that up
For every one. There is just you & afew others
Here who know a lot & help

But I wouldn’t say virtually every one got 1099k from ebay 2020 cus not everyone was on managed payment 2020.

For 2020. If they got 1099k it would have been PayPal

I got invited to mp on couple accounts 2020 but I don’t enroll
Just continued using the accounts with active listing
With large quantities.

Most of us were forced in July. What good was an account when you could not add new items or edit quantities?

We had MP accounts since October 2018 though. They used to mail the 1099ks

[stealthnorris]

Originally Posted by yankee

Most of us were forced in July. What good was an account when you could not add new items or edit quantities?

We had MP accounts since October 2018 though. They used to mail the 1099ks

Im guessing if you picked "Online Only"
They wont be mailing the 1099ks physically?

[stealthnorris]

Originally Posted by phaz0rz

LLC name + EIN. It won't mention your name or any other name on the account.

This is wrong.

It still mentioned the name in the 1099k report.

[phaz0rz]

Oh well. Sorry to mislead if that's the case. I'm just another seller.

The very first year I did stealth my 1099's had the "stealth name" but my EIN. Every other year they just had my LLC name.

[yankee]

Originally Posted by stealthnorris

Im guessing if you picked "Online Only"
They wont be mailing the 1099ks physically?

It is super annoying that you DIDNT chose Online Only..... then come here, make another sad post about them sending the 1099K to whomsoever identity you "used" and asking if you can change it now....

You are now my least favorite aspkin member

[phaz0rz]

This doesn't make any sense to me. You must have been running the accounts with no EIN? I can't understand why my 1099s would have my business info and not yours when we are both (allegedly) running the same type of companies.

[yankee]

Originally Posted by phaz0rz

This doesn't make any sense to me. You must have been running the accounts with no EIN? I can't understand why my 1099s would have my business info and not yours when we are both (allegedly) running the same type of companies.

Remember him asking sometime in early January when 1099Ks were issued so that he could add them? He never changed them over. It had to be done before the end of the tax year...... so of course it is in the persons name and SS that he "used'

[phaz0rz]

haha, weird

[stealthnorris]

Originally Posted by yankee

It is super annoying that you DIDNT chose Online Only..... then come here, make another sad post about them sending the 1099K to whomsoever identity you "used" and asking if you can change it now....

You are now my least favorite aspkin member

Its set to online only actually. Not sure why you're assuming i haven't done that.

And I've resolved this already.
Thank you

[LEARNINGONLY]

Originally Posted by stealthnorris

Wondering if anyone knows to whom the 1099k will be issued to when signing up for a single member LLC.


will it be the person who opened the account?

or the Beneficial Owner that you have an option of putting when signing up for MP and using single member LLC.

Just viewed my 1099k today and I set up EIN/LLC in February 2021 last year and they still processed my 1099k under my SSN and personal name.