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  • J Tiers
    replied
    Originally posted by Mcgyver View Post
    .....................

    Americans have got a special treat coming with the government insisting ebay send 1099 forms to IRS for annual sales over $600! (currently its 20,000). Who will want to use it if for 600+ a year you trigger IRS interest?
    I get 1099 forms from all sorts of sources every year. It is not a problem. You just declare your earnings, which you would be doing anyway.

    In the case of selling something that is now surplus to you, your "earnings" are generally negative, as you are selling for "residual value". If you make a business of buying things to sell on ebay, then you would need your purchase cost vs the sale price, the difference less other expenses then comprising your earnings/profit, as in any business.

    Only if you are doing things "super casual" would you have any issues. The IRS is understaffed, it's so bad they have not sent me a refund from 2020 yet, although they admit they owe it. So if they do not see much potential added payment plus penalties, they probably will not go after you on speculation. In a few cases, they do; for some reason one of the poorest areas of the south apparently has one of the highest audit rates. I don't know why that is for sure.

    But getting a 1099 is normal procedure. All of the investment companies do it, and so do others who have paid me for work during the year. Not a big deal. It may be up to you to declare what part of that is "profit", and so taxable.

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  • Ridgerunner
    replied
    Add me to the list of being done with Ebay. I have been registered with them since 1999.

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  • andywander
    replied
    Ed, I have 2 separate pages on ebay-one called "selling", and the other called "purchases". I get to them thru the "my ebay" menu.

    Each of these pages has a listing of "orders", but they are separate listings-stuff I have sold is on the "selling" page, and stuff I have bought is on the "purchases" page.

    I couldn't find a page where it shows both sales and purchases together in one "orders" listing.

    Leave a comment:


  • Mcgyver
    replied
    I don't get that captcha crap after you've already signed in, but it sure is annoying BS. If you think its robot signing in, stop it after a few PW fails...rather annoying and is wasting the time of users.

    I think I'm done with ebay on this whole bank account thing. I'm sure they are trembling in the their boots on hearing that, but maybe if a million people stopped?

    Americans have got a special treat coming with the government insisting ebay send 1099 forms to IRS for annual sales over $600! (currently its 20,000). Who will want to use it if for 600+ a year you trigger IRS interest?
    Last edited by Mcgyver; 04-22-2021, 09:05 AM.

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  • Black Forest
    replied
    I have nearly stopped using Ebay. In the last month they have started requiring me to do these eChaphta picture identifying antirobot puzzles. The ones where you have to identify the pictures with say motorcycles or crosswalks. I hardly ever even check Ebay anymore because of that crap. I only buy not sell.

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  • Edwin Dirnbeck
    started a topic off topic more good news for ebay sellers

    off topic more good news for ebay sellers

    So ,I had a rotten day and thought that I would look on ebay and see if I had SOLD anything .I have done this for the last 10 or 15 years.Not so.I was confronted with pages full of useless charts and graphs. SOLD ITEMS dont exist anymore. Now they are called ORDERS.But there are 2 kinds of orders. Orders that I have sold and orders that I have purchased..The whole thing seems bizarre. They make you go thru 5 pages so that you get the whole experience..I make a lot of money with them,so I just have to grin and bear it. Rant over. Edwin Dirnbeck
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