The total of my 1099K income is larger than the total amount transferred to my bank (net) plus the fees charged.
I issued several refunds, and made some purchases, but I am unclear if all those amounts are included in the 1099K. I've added the numbers up every way I can think of, but they just don't add up. Can someone explain this apparent discrepancy to me?
Welcome to the PayPal Community! I can understand how your 1099 can be a bit confusing. Your 1099 reports the gross dollar amount of goods and service payments received through your PayPal account(s). You should receive a Reconciliation Report included with your 1099-K listing the transactions included in your total gross sales for goods and services. Here's a great article to guide you if the amount reported on the 1099-k is incorrect.
I hope that helps!
- Jon K
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