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Old 07-12-2014, 10:26 PM
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Must consignee selling for others on eBay issue 1099 to consignors for personal property sales?

Consignee sells items of personal property for individuals on eBay, and pays 85% of net sale proceeds to consignor. Various items sold for an individual (for example) will result in payments to consignor of a total $30,000 in 2014.

For the sale of personal property belonging to another person in this situation, does a 1099 need to be issued by the eBay seller to the owner of the property for the sales proceeds?

Thank you.



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Old 07-13-2014, 04:05 AM
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Quote:
Originally Posted by Fadrag View Post
Consignee sells items of personal property for individuals on eBay, and pays 85% of net sale proceeds to consignor. Various items sold for an individual (for example) will result in payments to consignor of a total $30,000 in 2014.

For the sale of personal property belonging to another person in this situation, does a 1099 need to be issued by the eBay seller to the owner of the property for the sales proceeds?

Thank you.

Consignee sells items of personal property for individuals on eBay, and pays 85% of net sale proceeds to consignor. Various items sold for an individual (for example) will result in payments to consignor of a total $30,000 in 2014.===>>>>>>I guess aslongas the consignee sells personal pty, he would be required to send a 1099 to each unincorporated consignor that was paid over $600; he needs to use Form 1099-MISC to report that he made direct sales of at least $5k of consumer products to a buyer for resale anywhere other than a permanent retail establishment..

So far he should file 1099misc if the amount of resale is is $5k or above.

For the sale of personal property belonging to another person in this situation, does a 1099 need to be issued by the eBay seller to the owner of the property for the sales proceeds?======>>>>>>> if It's inventory - no 1099 required because no service is being performed. The sale wouldn't happen without the product being sold which then makes that Cost of Goods Sold.



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