My inventory lab11/11/2023 If you run this report after January 1, then Amazon will just need a few moments to create this report. It will be there waiting for you to download. Just remember to come back to this report page to download this report. If you do the above steps before December 31, then Amazon will schedule this report to be run first thing January 1. Select the CUSTOM date range option and enter from 01/01 of the year to 12/31 of the same year.Choose the account type you want to include.Log in to Seller Central, click the three line icon in the top left corner of the screen, hover over the REPORTS header, and click on the PAYMENTS option.You can do that by running some seller reports in Seller Central. If you didn’t meet the $20,000 sales and 200 transactions qualification to get a 1099K, you still need to report your numbers to the IRS. This report gives you a lot of information about your Amazon sales numbers including your FBA sales, non-FBA sales, total Amazon expenses, and total refunds for the year. It just means you’ll have to use the Year End Sales Report (see below) in order to get the data you need to properly report your income. If you didn’t qualify to get a 1099K from Amazon (grossed under $20,000 in unadjusted sales and under 200 or more transactions), that doesn’t mean you’re exempt from reporting your income. That’s why we’re running these other reports as well. The gross sales number is important to know, but it’s not the number you’ll want to report as an accurate reflection of your actual profits. That’s because the 1099K tells you your gross sales numbers without factoring in things like Amazon fees, returns, and other expenses. When you look at your 1099K from Amazon, you might freak out a little because the number Amazon gives you might look like a HUGE number. If you didn’t qualify for this report, then you’ll need to find this information by creating a Year End Sales Report. The report will be ready for download from Amazon sometime after January 1, but before January 31. ![]() You can get this report from the Amazon email they send you and from your Amazon Tax Document Library. ![]() Amazon will email you a link on how to access this form sometime in January (usually more toward the end of the month). You’ll be able to download this report directly from Amazon if you’ve grossed over $20,000 in unadjusted sales and 200 or more transactions during the year OR if you’ve had one transaction in 2022 for over $600 ( source). Your 1099K is the report of your gross sales revenue for the year. This is an easy report to find and print out. I’ll break down exactly how to run the right reports and how to access these numbers in the sections that follow. The most important information you’ll need to have on hand to give your CPA are the following: It will really help you catch up your numbers to be up to date. You can use the coupon code FT20 and save 20% off for a limited time. If you’re in more of a “catch-up” mode and trying to get all your numbers for the year right now, I highly recommend this course called Catch-Up Accounting. If you’ve been keeping track of all your numbers throughout the year, this process will still be time intensive, but much easier. On the other hand, if you’re not an InventoryLab user, while some of the reports in Seller Central are easy to run, there are other reports and numbers you need to calculate that will be very time consuming to do. The process of getting most of these reports and numbers is incredibly easy. If you’re an InventoryLab user, I have very good news for you. Today, I’m only showing you how to get the reports that you need to add to all of your other 2022 tax documents. It’s important to know that there are several reports you should be sure to send to your CPA (or whoever is doing your taxes).īefore we go any further I want you to know that I am not a tax specialist or giving you any tax advice. I highly recommend hiring a local CPA who is knowledgeable of online sales and all the tax implications for your state. No matter if you sell on Amazon as a serious income stream or as an occasional hobby, you’re still required to report your income to the IRS. ![]() ![]() I admit the topic of “end of year reports” is not all that exciting, but it’s very necessary… in fact, if you don’t do this right it could have some negative impacts on your business.
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