mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@nobody*s_perfect wrote:
@mam98031 wrote: ... Ebay is going to have a Podcast in the near future on the 1099K subject. it isn't currently scheduled. But once it is a few of us that have been trying to get this to happen will post all over the forums of the time and place for the Podcast so as many sellers as we can reach will be able to attend.WHY a podcast, rather than a written Help page that people can refer to!
One thing at a time. IDK if Ebay would publish such a page, but you can try.
@downunder-61 wrote:
@wildpitchsports wrote:
@downunder-61 wrote:
@keha-5838 wrote:Honestly, the new tax law just makes me not want to sell online anymore.
What new tax law? Have I missed something?
I am curious. Your're from AUSTRAILIA - why so much concern over US Tax Law?
My reply was actually [/s] referring to keha-5838's misquote of the NEW tax law that is not a new tax law
I would just add that a seller does not have to be located in the USA to be a solid contributor on the forums.
@sprucewood3092 wrote:Hobby seller here. Sold used goods from garage sales, the attic, etc. to pay for other hobbies (cars, motorcycles). Guess that's over. Just took down all my auctions. I don't want the hassle of having to treat this activity like a business.
Stuff you purchased at garage sales or stuff you already had and just set aside for a garage sale.
If you are purchasing stuff at garage sales to resale on Ebay, the income from that is taxable.
Selling stuff you had in your closet or attic is likely not taxable.
You'd be better off LEARNING the actual rules rather than just jumping to the conclusion that you need to stop selling as that is likely not necessary and all you are doing is hurting yourself unnecessarily.
Of course you have every right to do whatever is right for you, just keep in mind that what you have decided to do is likely not necessary.
@sprucewood3092 wrote:For the casual seller selling used items it's not worth it.
Back to Craigslist or the Swap Sheet.
Selling a "used" items does not mean it is or isn't something to be considered with your income taxes.
People buy used items all the time to sell here or elsewhere. That income from those sales needs to be reported on Federal tax returns as income.
But selling stuff from your closets, attic, garage, etc. That is likely NOT going to increase your income taxes owed. There are some exceptions. You just need to learn more about this subject. Don't jump to conclusions without the FACTS.
@sprucewood3092 wrote:There is no question that it will deter a casual seller from listing items. If it wasn't going to be a deterrent, ebay wouldn't be encouraging its users to write their representatives or lobbying congress.
I fully agree that if you're buying items to make a profit you should pay your fair share if you exceed the threshold. But if I'm cleaning out stuff I no longer use, or have lost interest (and I have a ton of stuff that fits that category) I'll now save it for a garage sale, and ebay knows this. I won't be listing a $600 car roof rack system that I now longer need, I'll Craigslist it.
I haven't argued that point. It will deter a lot of sellers. Likely mostly because they don't learn the actual rules. Some simply assume that if they are selling their own stuff they will now have to pay income taxes on the money received for the stuff which is NOT TRUE in most or many cases. But because they don't take the time to educate themselves about the rules they will stop because the fear having to pay more taxes, when in actuality they don't.
See I don't get why you wouldn't sell the stuff. Is it because you ASSUME you will have to pay taxes on the money or have you actually done your homework and discovered that IRS would require that?
IDK that Ebay is the best place for a car roof rack anyway. Expensive to ship so you'd likely do local pick up.
