Reseller taxes are simpler than they look. Here's what Closo handles vs what you handle.
What Closo issues
If you sold over $600 in wholesale lots through Closo's Sell module in a calendar year, Stripe issues you a 1099-K by January 31. We email a copy and you can also pull it from Wallet → Tax documents.
What marketplaces issue
Each marketplace (Poshmark, eBay, Mercari, Vinted, Depop, Shopify) sends its own 1099-K if you crossed their threshold. Add those numbers to Stripe's number for total reseller revenue.
What to track yourself
Cost of inventory
Save thrift store / wholesale receipts. You can deduct them from revenue.
Mileage
Trips to thrift, post office, sourcing — IRS lets you deduct $0.67/mile (2026 rate).
Closo subscription
Fully deductible business expense.
Marketplace fees
Already netted in the marketplace's 1099 — but tracked in Closo's Analytics → Tax export for your accountant.