Jump to content
Model Cars Magazine Forum

The Official EBay Discussion Thread


Recommended Posts

14 minutes ago, Dave Van said:

With the new 2022 IRS 1099K rules....I do not see myself ever selling on ebay again.

I stopped selling when they went all crazy a year ago.  I would like to know where there are alternatives to selling other than the book of faces.  I am not on that platform.  Craigslist is hit or miss and generally local.  I like cash more and more these days of 100 percent oversite by big brother and sister.

Link to comment
Share on other sites

29 minutes ago, Dave Van said:

With the new 2022 IRS 1099K rules....I do not see myself ever selling on ebay again.

I just looked up and read through that form.

It, of course, shows the entire amount of every transaction.

So if you buy something at a garage sale for $10 and sell it for $10 on eBay, the entire $10 is listed as "income" on 1099K.

I'm curious at this point as to what form "costs" are reported on for a non-business filer?...as only profit should be considered "income".

I'm sure it's there somewhere, but I haven't looked for it yet.

 

 

Edited by Ace-Garageguy
  • Like 1
Link to comment
Share on other sites

1 hour ago, Ace-Garageguy said:

I just looked up and read through that form.

It, of course, shows the entire amount of every transaction.

So if you buy something at a garage sale for $10 and sell it for $10 on eBay, the entire $10 is listed as "income" on 1099K.

I'm curious at this point as to what form "costs" are reported on for a non-business filer?...as only profit should be considered "income".

I'm sure it's there somewhere, but I haven't looked for it yet.

 

 

To deduct any 'cost' from the 1099K total you will need to be a 'INC', LLC or sole proprietor with Tax ID and license required by local. 

I'll not go into the logic behind all this as it would just get thread deleted.  Thx 

  • Thanks 1
Link to comment
Share on other sites

1 hour ago, steveracer said:

I stopped selling when they went all crazy a year ago.  I would like to know where there are alternatives to selling other than the book of faces.  I am not on that platform.  Craigslist is hit or miss and generally local.  I like cash more and more these days of 100 percent oversite by big brother and sister.

I see in person shows growing.........IMHO Only

Link to comment
Share on other sites

2 hours ago, steveracer said:

I like cash more and more these days of 100 percent oversite by big brother and sister.

Funny thing is that there has been some mentions in this country of getting rid of currency, and only use other payment methods.  Hopefully not in my lifetime.

Link to comment
Share on other sites

46 minutes ago, Dave Van said:

 

I'll not go into the logic behind all this as it would just get thread deleted.  Thx 

The only logic that it could possibly be, is if ebay wants to be only business to business or business to buyer.  Eliminate what it was built on and that is non LLC or INC sellers.

Link to comment
Share on other sites

Back when the new Round 2 IHC CO-4070A was announced, I pre-ordered two of them from a seller on eBay that was selling them at a pretty good price. They were projected to be available in 1-2 months. In about a week and a half I received an envelope from them that included just a wooden business card. Nothing more. Was kind of wondering what was up with that, but life was extremely busy then, so I just sat back and waited. A month and a half went by, so I checked the status on the eBay page, and saw a tracking number. Hmmmm. Checked the tracking number and saw that it had shipped over a month before, and was marked as delivered. So I contacted the seller and asked what was up, and told him I didn't receive the trucks yet, but saw they were shipped, and early at that, and supposedly RECEIVED! WOW.................was like kicking over a hornet's nest. The guy was rude, vulgar, and used more four letter words than a drunken sailor, told me that I was blocked from his auctions, that I was not patient enough, and was trying to damage his business. I answered asking again what was going on, mentioned that I saw the tracking number, and saw it was delivered, and that I most certainly didn't get them. Got more four letter words and a claim that I did in fact get the kits. Then I checked the guy's feedback, and saw that he is a VERY rude guy, who apparently answers every buyer that has a question with vulgarity and rudeness and a block. 

So...............I contacted eBay and filed a "did not receive" claim. eBay in it's infinite wisdom, told me that I did indeed receive the package, as shown by the USPS tracking number. I contacted them at least five more times, explained what I DID receive, (the business card), and that I wanted my money back. We went round and around many times, and after sending them photos, and all else, and even showing them that the tracked package was a 4 ounce First Class package and could not possibly contain two truck kits, they FINALLY decided that the package was in fact stolen, and reluctantly refunded my money. STOLEN???? Total stupidity. And, due to the refund having been made for a "stolen" shipment, I could not post feedback for the sale showing other members what kind of seller this guy is. All I can figure out is that he uses the tracked package with the card to claim that the product was in fact delivered. And eBay bent over backwards to try to protect him, and in the end actually did. 

Edited by redneckrigger
Link to comment
Share on other sites

3 minutes ago, redneckrigger said:

Back when the new Round 2 IHC CO-4070A was announced, I pre-ordered two of them from a seller on eBay that was selling them at a pretty good price. They were projected to be available in 1-2 months. In about a week and a half I received an envelope from them that included just a wooden business card. Nothing more. Was kind of wondering what was up with that, but life was extremely busy then, so I just sat back and waited. A month and a half went by, so I checked the status on the eBay page, and saw a tracking number. Hmmmm. Checked the tracking number and saw that it had shipped over a month before, and was marked as delivered. So I contacted the seller and asked what was up, and told him I didn't receive the trucks yet, but saw they were shipped, and early at that, and supposedly RECEIVED! WOW.................was like kicking over a hornet's nest. The guy was rude, vulgar, and used more four letter words than a drunken sailor, told me that I was blocked from his auctions, that I was not patient enough, and was trying to damage his business. I answered asking again, what was going on, mentioned that I saw the tracking number, and saw it was delivered, and that I most certainly didn't get them. More four letter words and a claim that I did in fact get the kits. Then I checked the guy's feedback, and saw that he is a VERY rude guy, who apparently answers every buyer that has a question with vulgarity and rudeness and a block. 

So...............I contacted eBay and filed a "did not receive" claim. eBay in it's infinite wisdom, told me that I did indeed receive the package, as shown by the USPS tracking number. I contacted them at least five more times, explained what I DID receive, (the business card), and that I wanted my money back. We went round and around many times, and after sending them photos, and all else, and even showing them that the tracked package was a 4 ounce First Class package and could not possibly contain two truck kits, they FINALLY decided that the package was in fact stolen, and reluctantly refunded my money. Total stupidity. And, due to the refund having been made for a "stolen" shipment, I could not post feedback for the sale showing other members what kind of seller this guy is. All I can figure out is that he uses the tracked package with the card to claim that the product was in fact delivered. And eBay bent over backwards to try to protect him, and in the end actually did. 

Wow! What a thieving jerk!

Link to comment
Share on other sites

8 minutes ago, redneckrigger said:

And, due to the refund having been made for a "stolen" shipment, I could not post feedback for the sale showing other members what kind of seller this guy is

Ebay wouldn't let you show others his kind of seller ( I feel your pain...happened to me as well- different seller), nothing says you can't "call him out, here!"

...at least here some will know his ways.

Link to comment
Share on other sites

12 hours ago, steveracer said:

The only logic that it could possibly be, is if ebay wants to be only business to business or business to buyer.  Eliminate what it was built on and that is non LLC or INC sellers.

This is being pushed by the FED's not ebay......I think it will end up hurting all online sales by people just selling stuff.  The 1099K law will affect any transaction where people use any online payment service. If you sell on Facebook and use Venmo, you will be taxed. 

Edited by Dave Van
Link to comment
Share on other sites

11 minutes ago, Dave Van said:

This is being pushed by the FED's not ebay......I think it will end up hurting all online sales by people just selling stuff.  The 1099K law will affect any transaction where people use any online payment service. If you sell on Facebook and use Venmo, you will be taxed. 

Will this affect if a person rents a booth at a model show, sells only cash?

 

Also, what about say, paypal, friends and family transfers?

Edited by steveracer
Link to comment
Share on other sites

1 hour ago, steveracer said:

Will this affect if a person rents a booth at a model show, sells only cash?

 

Also, what about say, paypal, friends and family transfers?

Cash sales at in person will not be affected. 

ALL....repeat ALL transactions via a online payment system, no matter the reason, will be taxed if in a single year it is more than $599.99.

This means Paypal, Venmo, CashApp etc etc

Let's say the boss asks you to  stop and get doughnuts and coffee on the way to work. He uses Venmo to pay back the $40 it cost you. That will be TAXABLE as income if you receive more than $599.99 in a single year. Think about that. This works out to a little over $12 a week.......you are now liable to file a 1099K which is PURE income.  

My son hit hard times when his wife had a major health issues. His car died and he needed to replace it. No credit so I bought the car and  he pays me holder of the loan. We used Venmo in the past but now he will have to put cash in an envelope and send registered mail. Repayment of a loan IS NOT INCOME!!!! 

Final thing I'll say. As a retired banking analyst I will say this is being done to break these 3rd party payment systems AND collect taxes on money THAT IS NOT INCOME. This is a source of income that requires ZERO personnel is fully automated and generates cash for the government even if the money is really not taxable. 

Off the soapbox. Thanks  

  • Like 2
Link to comment
Share on other sites

On 1/10/2022 at 8:21 AM, Dave Van said:

Cash sales at in person will not be affected. 

ALL....repeat ALL transactions via a online payment system, no matter the reason, will be taxed if in a single year it is more than $599.99.

This means Paypal, Venmo, CashApp etc etc

Let's say the boss asks you to  stop and get doughnuts and coffee on the way to work. He uses Venmo to pay back the $40 it cost you. That will be TAXABLE as income if you receive more than $599.99 in a single year.  

Wow. This is actually really disappointing and infuriating. I sold about $5000 on eBay last year. It should be a tax write off for how much it probably cost me to buy (including paying taxes on!), store, list, sell, and ship. I know it’s zero profit and then some. Guess my congresswoman will be hearing from me…

 

  • Like 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...