I have an eBay seller's account and my friend whose account was suspended, wants to use my account to sell their items. So for example if my friend has made about $150,000 in sales on my account. I am concerned about how to handle taxes at the end of the year. eBay will send me a 1099-K form, but how do I ensure my friend is held liable for the income generated from his portion of sales on my account? Is there a specific tax form I need to issue to my friend? Both of us are from USA.
How to handle taxes for friend using my eBay account?
byu/giftedhands81 intax
Posted by giftedhands81
7 Comments
Yikes
Issue a 1099 from your SSN to theirs
So their account is suspended and you are willing to put your account at risk? I personally would not do it. You are counting on the to ship timely. Pay all fees. Respond to buyers.
It’s all in your name and ssn buddy. Be careful
You’ll have extra income and it’ll throw you into a massively higher tax bracket. He would have to pay you on the side I presume
Nothing about this is great.
Your a nice friend it will only cost u about 25k and maby up you bracket on your own taxes I like the 1099 idea other person posted but if i were you I would contact a tax professional to figure out what u can do
Zero benefits to you with all the risks.
This is like co-signing a mortgage, I wish you luck.