How To Find Your Total Fees Paid To Amazon

– [Jessica] Hey guys,
what I wanted to do today was show you what to do
now that you’ve gotten your 1099-K from Amazon. If you went over $20,000 in
sales and 200 transactions, you should’ve received
a 1099-K from Amazon to help you with filling out your taxes. When you first look at that 1099, I’m sure that it looks pretty scary because they’re such high numbers, and you know that that’s not exactly how much you made selling on Amazon. So I’m gonna show you how to figure out what the difference is, and how much fees that you paid to Amazon, and that’s really gonna help you to put some of those
numbers into your Schedule C whenever you’re filing your taxes. So the first thing that you wanna do is go to your Amazon seller account. And you’re gonna wanna go to Reports. And then you wanna go
to Tax Document Library. And this is where you’re gonna
actually print out the 1099, if you haven’t done so already. You should’ve just
received an email at least telling you that you had one available. So you’re gonna wanna go to
the Tax Document Library. And if this is your first year selling, then you’re just gonna
have one that says 2013, but since I’ve gotten 1099s
for the last three years, they’re all here. And so, you’re gonna go to Download PDF. And now you’ll see that
there is a password required in order to open the PDF. So what you’ll wanna do is copy
this password, highlight it, and then right-click it, and click Copy before you click Download, so that way you can open the file. And then click Download PDF. It’ll pop up that password one more time so that you can go back
and copy it if you need to. But you’re gonna go ahead
and paste that password into this box here. Click Paste, and then just
push enter on your keyboard, and it will open up the 1099 for you. Then what you want to do
is print this document out for your records, so you can
either go to File and Print, or you can Control Print. However it is that you
print on your computer. So I’ll go ahead and print mine, and then we’ll get going
to the next section. Now that you have your 1099 printed out, the next thing that you need
to do is get all of the fees that you paid to Amazon,
for selling on Amazon, in the last year. So for this year, for 2013 is
what you need the records for. And for that you’re gonna
go right back to Reports. And now you’re gonna go to Payments. Once you’re in the payment screen, it’s gonna show you your current balance. What you’re gonna wanna do is go here, to where it says Date Range Reports. And you’re gonna wanna
generate a new report. And you can see here that I’ve already downloaded some reports. But what you wanna do
is create a new report, so you’re gonna go to
Generate a new report. And you wanna click Summary. You don’t wanna do transaction, that’s gonna be way too many pages, and all you need is a summary. So you’re gonna click Summary. And then you’re gonna
click to Custom date range. And you’re gonna put in the date. So we wanna do January 1st of 2013, until the last day of the year, which is December 31st, 2013. And then you’re gonna click Generate. Once it started preparing that report, you’re gonna have to wait. Sometimes it takes
about five to 10 minutes in order for that report to be finished, depending on how many transactions
you had in that report. So you’re gonna go
ahead and just click OK, and then it’s gonna say that
the report is in progress. And you’re just gonna have to wait for that report to finish. Once you’ve waited enough time
for your report to generate, you’re gonna click on Download. And you can refresh the
screen, refresh the browser. You can just come back to it, or you can push the refresh
button that was over here before I refreshed the screen. So once it’s ready, you go
ahead and click Download. Once the report downloads and
it opens up in a new screen, you’re gonna see this screen here. And what you’re gonna wanna
do is the most important part, is this section here
where it says expenses. These are all of the fees
that you paid to Amazon in the year that we’re doing
the report for, so in 2013. And this is everything that went through before December 31st
and after January 1st. So if you had transactions
that were pending into January, they’re not gonna show up on this report. And so it’s broken down for
you into seller fulfilled selling fees, FBA selling fees, has your individual transaction fees for fulfilled by Amazon,
storage fees, et cetera. So it has all of the fees
that you need to deduct from your gross sales for the year. And then what you can see here is also the amount of deposits that
Amazon sent you in the year. And so, that number is the number that’s really important this year, because you’re also gonna need
to subtract all of your costs associated with running
your Amazon business, from this number here. So you’re gonna wanna
go through and take out your cost of goods sold, any office supplies that you purchased, any scanners, replacement phones. All the different expenses
that you can write off, you’re gonna wanna do
that from that number, because you wanna get that
number as low as you can, with all of the things that you can deduct so that you can pay taxes just on what you actually
made, net profit. And so, we can talk about that later about all the other
things that you can deduct from your deposits to get your net amount. But for right now, the
most important thing that you’re gonna need is all the fees that you paid to Amazon. So all those are right here, and if your accountant wants
you to have them broken down, then he can see all of the totals here. What we do on ours is we
have a full expense line for all of our Amazon fees, and we’re not separating
it by selling fees and shipping fees, et cetera. That’s gonna be something
you’re gonna wanna talk to your accountant about and to see how they want
to prepare your taxes. So I hope that helps and you
can see exactly what you paid to Amazon for the year,
and it will get you going.


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