Does Shopify 1099-K include money reported on the PayPal 1099-K?

LiveLoveLocal
New Member
1 0 0

If my Shopify 1099-K shows a Gross Income of $10,000 and my PayPal 1099-K Gross Income shows $4,000, does that mean that my Gross Income is the combined $14,000 or just the Shopify $10,000?

Also, is the Shopify 1099-K showing payouts (which deducts fees) or gross sales and then I deduct the fees? 

Thanks for the help.

Reply 1 (1)
Blair
Shopify Staff
Shopify Staff
248 20 34

Hey @LiveLoveLocal

 

Thank you for reaching out to the Community. Great question, the 1099-K form from Shopify reports transactions processed through Shopify Payments only. In this case, other payment processors such as PayPal, would be responsible for producing 1099-K for transactions they handled. For more information on this, you can refer to our Tax Reporting documentation as it touches on this further.

 

As for what the 1099-K form reports on, it includes gross transaction value. It does not factor in refunds, chargebacks, credit card processing fees, adjustments or any bills paid with using Shopify Balance.

 

Please let me know if you have any other questions!

Blair | Shopify 
 - Was my reply helpful? Click Like to let me know! 
 - Was your question answered? Mark it as an Accepted Solution
 - To learn more visit the Shopify Help Center or the Shopify Blog