How to Find Your Depop Seller Receipts for Bookkeeping

How to Find Your Depop Seller Receipts for Bookkeeping

Running a Depop shop is an exciting venture. You source unique items, style photoshoots, and connect with buyers who love your aesthetic. But when tax season rolls around, the creative side of your business meets the analytical side: bookkeeping.

Many sellers ask, "how to find receipts on Depop?" It's a critical question. Proper record-keeping is not just good practice; it's essential for understanding your profitability and meeting your tax obligations.

Fumbling through emails and spreadsheets to track your Depop sales history can be a major time sink. This guide will walk you through exactly how to find your Depop seller receipts, understand your tax documents, and manage your finances like a pro, freeing you up to do what you love—selling.

Why Tracking Your Depop Sales and Receipts is Crucial

Before diving into the "how," it's important to understand the "why." Meticulous bookkeeping is the backbone of any successful resale business, no matter its size.

Meeting Your Tax Obligations

The moment your Depop shop starts making money, the IRS takes notice. If you make $400 or more in profit annually, you are expected to report that income.

This rule applies whether you are a regular seller treating Depop as a business or even if you consider it a hobby. Hobby sellers are still required to report and pay income taxes on their earnings.

For those running their shop as a bona fide business, you must pay both income tax and self-employment tax. The key thing to remember is that you are only taxed on your profit. Profit is the money you earn minus what it cost you to earn that money. This is why tracking every receipt and expense is so vital—it directly lowers your taxable income.

Understanding Your Business's Health

Beyond taxes, tracking your income and expenses gives you a clear picture of your business's financial health. Are you actually profitable? Which items give you the best return? How much are you spending on shipping supplies versus inventory?

Answering these questions is impossible without solid data. Accurate records allow you to make smarter decisions, price your items effectively, and scale your business with confidence.

Hobby vs. Business: A Key Distinction

The IRS makes a distinction between a hobby and a business. If you're simply cleaning out your closet in a virtual garage sale and don't make a profit, you likely won't be on the hook for taxes.

However, if you find yourself holding these virtual garage sales on a regular basis, you probably have a small business, which comes with tax responsibilities.

The main difference in how the IRS treats these categories lies in deductions. If your shop is a business, you can deduct, or "write off," your business expenses. If it's a hobby, you must report the income but cannot claim write-offs.

How to Find Your Depop Sales History

To begin tracking your finances, you first need to access your core sales data. This is your primary "Depop seller receipt" for all transactions. Luckily, Depop provides a few ways to get this information.

Using Depop's Shop Stats Feature

Depop offers a built-in dashboard where you can get a quick overview of your sales. You can access your Shop Stats to see your gross totals and other metrics.

• On a Laptop or Desktop: Log in to Depop.com, go to the Selling Hub (via the "Sell" icon), and select "Stats" on the left-hand side.
• On an iOS or Android Device: You must use a web browser like Chrome or Safari, not the app. Log in to Depop.com, tap the menu icon in the top-left, go to the Selling Hub (via the "Sell" icon), and find "Stats" in the "Explore Hub" dropdown menu.

While helpful for a quick look, these stats don't provide the detailed, itemized data needed for thorough bookkeeping.

Downloading Your Depop Sales Report

For more detailed records, you can download a complete sales report from Depop. This report is provided as a CSV file, which can be opened in spreadsheet programs like Google Sheets or Microsoft Excel.

This file is the most comprehensive record of your Depop sales history available directly from the platform. It can contain more than 90 days of your transaction history, giving you a broad view of your performance.

However, there are a couple of significant limitations. The Depop sales file does not contain payout information. Furthermore, because Depop does not offer public APIs for sales history, this data cannot be automatically synced with other software. This means you must perform a regular manual download of your sales history to keep your records current.

Understanding Your Depop Tax Documents: The 1099-K Form

For many sellers, the most important document they'll receive is the Form 1099-K. This form is a summary of your gross sales activity for the year.

What is a 1099-K?

The IRS requires Payment Settlement Entities, like Depop, to report the payment volume received by their US account holders. Depop partners with Stripe to file these 1099 tax forms.

The form details the gross income you earned from your shop through Depop Payments. It's important to note that if you also used PayPal, you might receive a separate 1099-K from them, which would include all income processed through their platform, potentially including sales from other marketplaces like Poshmark or eBay.

Who Gets a 1099-K from Depop?

You will automatically receive a 1099-K form from Depop (via Stripe) if you meet certain thresholds. Sellers based in the US or who are US taxpayers will receive a 1099-K if they had $5,000 USD in total gross volume in the previous calendar year.

Another common threshold you may hear about is making over $20,000 and logging at least 200 sales in a year. While thresholds can change, meeting either of these benchmarks generally means you should expect a form.

How to Get Your 1099-K

Depop and Stripe have streamlined the process for receiving your tax forms through the Stripe Express platform.

1. The Invite Email: Starting in November, if you are projected to meet the threshold, Stripe will send an email inviting you to create a Stripe Express account. The email title will be, “Get your Depop 2024 tax forms faster by enabling e-delivery”.
2. Create Your Account: Click the "Get started" button in the email to create your account. You will need to confirm your tax information, like your name, address, and Social Security Number (SSN) or Employer Identification Number (EIN). You must do this before December 31.
3. Download Your Form: By January 31, your 1099 tax form will be available to download via Stripe Express. Stripe will email you to let you know it's ready.

Troubleshooting: Can't Find Your 1099-K?

If you believe you should have received a form but can't find the email from Stripe by mid-January, don't panic. Here are a few steps to take:

• Check your spam or junk mail folder for the email.
• Confirm the email address associated with your Depop account is correct. It's possible it's an old address, is missing, or is unable to receive mail. You may need to reach out to Depop support to update it.
• If you are still unable to locate the invite email, you can head to Stripe's Support Site to request a new link be sent to you.

If you don't take action and are eligible for a form, a paper copy will be mailed to you. It should arrive within 10 business days after January 31.

What if I Don't Receive a 1099-K?

This is a critical point: not receiving a 1099-K does not mean you don't have to pay taxes.

Remember the rule: if you make over $400 in self-employment income (profit), you should plan to file taxes. If you don't meet the threshold for a 1099-K, you are still responsible for reporting all your income. You can do this by using the sales history you download from Depop's Selling Hub.

From Receipts to Write-Offs: What Depop Sellers Can Deduct

Once you have your income figures, the next step is to calculate your profit. This is done by subtracting your business expenses from your income. These deductible expenses, or write-offs, are essential for lowering your tax bill, and you need receipts to prove them.

Here are common tax write-offs for Depop sellers:

• Inventory Expenses: This is often the biggest deduction. It includes the cost of the items you resell, any costs for repairing or tailoring items, and professional laundering or dry cleaning services.
• Shipping Materials: Padded envelopes, boxes, packing tape, tissue paper, Sharpies, and bubble wrap are all deductible.
• Shipping Costs: You can deduct the cost of a Depop shipping label if you are the one paying for it. However, if an item is marked "free shipping," the buyer is actually paying for it, so it is not a write-off for you.
• Platform Fees: The fees that Depop and PayPal take from each sale are deductible.
• Home Office or Storage: If you have a dedicated workspace for staging photos, packing orders, or storing inventory, you can write it off as a home office or storage expense.
• Photography Expenses: Backdrops, props, ring lights, and even subscriptions to photo editing apps are all considered business expenses.
• Transportation Expenses: You can deduct the mileage for driving to the post office to drop off parcels or to the thrift store to source inventory.
• Phone Bill: The business-use portion of your cell phone bill is a valid deduction.

Tracking all these different expenses manually can be a massive headache. This is where modern tools can make a world of difference. While some sellers turn to spreadsheets, a dedicated platform can automate this entire process for you.

Imagine having a system that not only tracks your sales but also automatically categorizes your expenses, helping you find every possible deduction without the manual effort. For resellers looking to grow their business, this level of automation is a game-changer. Try our platform for free to see how seamless bookkeeping can be.

The Challenge of Manual Bookkeeping for Depop Sellers

While Depop provides some tools, managing your finances manually presents significant challenges, especially as your business grows.

Sellers often resort to a patchwork of solutions. You might download a CSV from Depop, then manually input that data into a "Depop Profit Tracker" or a "Reseller Inventory and Sales Tracker" spreadsheet you found online.

You then have to collect physical receipts for your inventory, shipping supplies, and other costs, and manually enter those into the same spreadsheet. This process is not only tedious and time-consuming but also prone to human error. A single typo could throw off your entire year's financial records.

This is time you could be spending on high-value activities like sourcing new inventory, creating compelling listings, or engaging with your customers. The administrative burden of manual bookkeeping holds many sellers back from reaching their full potential.

Streamline Your Depop Bookkeeping with Reeva

At Reeva, we designed our all-in-one platform to solve these exact problems. We're built for resale businesses looking to accelerate their growth by simplifying and automating the tedious tasks that slow you down.

As TUFFNY, a reseller from New York, put it, "I've cut down my admin time by at least 30%, which has allowed me to source more products and expand my offerings."

Full Service, Automated Accounting

Our platform offers a full suite of accounting tools designed specifically for resellers. Say goodbye to spreadsheets and manual data entry.

• Automated Transaction Syncing: Connect your bank accounts, and our platform automatically records your transactions, expenses, and fees.
• Effortless Receipt Management: Simply upload a photo and attach receipts to transactions for seamless record-keeping and complete audit protection.
• Smart Categorization: We automatically categorize your income, fees, and expenses, so you can easily see where your money is going and prepare to file your taxes.
• Clear Reporting: Generate clear profit and loss reports with a single click to help you make smarter, data-driven business decisions.

PCT Vintage Finds from Florida said it best: "No more spreadsheets. My bookkeeping is now all automated thanks to Reeva accounting."

More Than Just Bookkeeping: Tools to Scale Your Business

While powerful accounting is at our core, we offer a complete set of tools to help you sell smarter and faster across multiple platforms like Depop, Poshmark, eBay, and Mercari.

• Instant AI Listings: Turn photos into complete listings in seconds. Just upload your photos, and we'll create optimized titles, descriptions, and prices for you.
• One-Click Cross-Listing: Publish your items to all your marketplaces without ever switching tabs. This maximizes your visibility and sales potential effortlessly.
• Powerful Automation: We can automatically share your Poshmark closet, send personalized offers to buyers, relist stale products, and instantly delist sold items to prevent overselling.

Our clients see real results. Nuzzydeals in Denver saw a 7x increase in sales, while Vintage Vault in West Virginia increased items sold by over 372% in just three weeks. This is the power of automating your workflow.

If you're ready to stop juggling spreadsheets and start scaling your business, we invite you to see how our platform can transform your workflow. Start your free trial of Reeva today.

Filing Your Taxes as a Depop Seller: A Quick Guide

Once you've gathered all your income and expense information, the final step is filing your tax return. For business owners, this means using Form Schedule C, "Profit or Loss from Business."

It sounds intimidating, but the form is straightforward if your records are in order.

• Part I: Gross Receipts or Sales: This is where you report your total income before any deductions. Remember to include your income from all sales platforms here, not just Depop.
• Part II: Expenses: This section is where you record all your deductions—the business expenses you've been tracking all year. The total of these expenses is subtracted from your gross income to determine your net profit, which is the amount you'll be taxed on.

The Keeper app notes that a good app can help fill out Schedule C for you. With our platform's comprehensive accounting features, all the numbers you need for Schedule C are organized and ready, making tax time significantly less stressful.

A Note on Estimated Taxes

If you expect to owe more than $1,000 in taxes for the year, the IRS requires you to pay estimated quarterly taxes throughout the year. This involves estimating your annual income and expenses to calculate your payments. Accurate, real-time bookkeeping is essential for making these estimates correctly.

Conclusion: Take Control of Your Depop Finances

Managing your Depop seller receipts and bookkeeping is a non-negotiable part of running a successful resale business. It ensures you meet your tax obligations and gives you the financial clarity needed to grow.

We've covered how to find your Depop sales history, how to get and understand your 1099-K tax form, and the crucial deductions you can claim to lower your taxable income. While you can manage this with Depop's tools and manual spreadsheets, the process is time-consuming and inefficient.

That's why we built Reeva. Our platform automates the most tedious parts of running a resale business, from creating listings to managing inventory and, most importantly, handling your accounting. We give you back the time you spend on admin work so you can focus on growing your sales.

Stop letting bookkeeping be a barrier to your success. Experience the freedom of automated accounting and powerful selling tools.

Start your free 7-day trial of Reeva today and see how easy it is to run and grow your resale business.