New tax rules for 2022

[kenwooddave]

This might end an ebay seller of collectables after 23 years, 7k+ FB's at 100%. The extra time with paperwork keeping track of sells at 1c to $100, minus the original cost, etc. Always look forward to listing 250 lots each month but will not renew my store next year.  Seems the liberal gov. after the smalltime sellers to raise funds for the social programs.

[rhondarhondalou]

I feel your pain but don’t you know near ALL  US money goes to Lockhead Martin, BAE, Boeing, RAYTHEON?! Afghanistan bill: 100 Million a day! for 20 years.  Not going to a few SNAP bucks for some poor mom down the road.  Lord. 

[rhondarhondalou]

Joe Biden and Trump are two sides of one coin dear.  I hope you enjoy your new hobby.  

[ricstr_6140]

I wonder how many of these self-righteous responders that are happy with the new rules actually follow all the other existing tax laws like paying taxes on gifts and yard sales over a certain amount etc. These angry responses at a simple concern show what jerks people have become and I guarantee you these people are breaking other laws despite how superior and righteous they feel.

[msup_39]

I agree with your comments. eBay used to be a great place to buy and sell all kinds of stuff. Now they don’t care about customers.

off topic but maybe you can help me.

how do I update my tax information on eBay. They give me a link but that link has nothing to do with updating my tax info.

Thank!

Michael

[deltilogical]

Whenever I am in New Jersey and forced to buy cheaper gas, I calculate the difference between the tax I SHOULD HAVE paid in New York and the lower tax in NJ and send a check to the guv'ner. 

I stopped in New Hampshire for a coffee at Starbucks recently and realized I didn't pay any sales tax on it, so I sent a check to NY guv'ner for the sales tax I would have paid in NY to not be a scofflaw and obey and be compliant.

[dryophelia]

@msup_39 

 You will likely get better return for your question if you start your own thread.

In addition, your question here is a little vague.

When you start the thread, clarify what 'tax info' you are changing.

Give details such as, what information you are trying to update. What has changed since you initially provided the information, and of course what you have already tried and at what step you are not able to get past.

[chiachadly]

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@downunder-61 wrote:

Tax evasion is fraud, and if you have not declared profit you have made on eBay in 23 years, I would not be announcing that on a public forum for all and sundry to read.

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The keyword is PROFIT. For people selling personal items, this is a huge problem. Not everyone on eBay is running a business. In the new economy as things move digital, eBay for many of us is literally a garage sale. We have fallen on hard times and are selling our own stuff.

The point of the 20K threshold was to stop people selling personal stuff from having to treat items they have no record or receipts for like stocks.  Dismissal of this new rule is pure ignorance. SOME people maybe should have been reporting profit. But, there will be a lot of us swept up in this dumb new rule that no longer makes the distinction between a tax-dodging business and a person.

[justafemster]

Yup, you didn't have to report anything below $600.  That's combined income, from garage sales, to online sales to cash gigs.  

The exact same it is now required for online venue(s) to report...anything $600 or above.  

[ministry1992]

Biden derangement syndrome is STRONG on this one!

[lwi121]

Maybe all the baristas should start paying taxes on their tips. I can guarantee you 99% of them don’t.

[downunder-61]

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@chiachadly wrote:

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@downunder-61 wrote:

Tax evasion is fraud, and if you have not declared profit you have made on eBay in 23 years, I would not be announcing that on a public forum for all and sundry to read.

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The keyword is PROFIT. For people selling personal items, this is a huge problem. Not everyone on eBay is running a business. In the new economy as things move digital, eBay for many of us is literally a garage sale. We have fallen on hard times and are selling our own stuff.

The point of the 20K threshold was to stop people selling personal stuff from having to treat items they have no record or receipts for like stocks.  Dismissal of this new rule is pure ignorance. SOME people maybe should have been reporting profit. But, there will be a lot of us swept up in this dumb new rule that no longer makes the distinction between a tax-dodging business and a person.

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Sorry, I fail to see the validity of any distinction between a tax-dodging business and a person..........

If you make a profit of more than $600 (2022) you get a 1099k form - it is up to you to deduct expenses and costs against this profit to decrease any tax burden on that amount.

Before I started my business, I, as an individual had to report ALL of my income from all of my jobs - this is nothing new. 

[downunder-61]

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@lwi121 wrote:

Maybe all the baristas should start paying taxes on their tips. I can guarantee you 99% of them don’t.

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I can guarantee you 100% of them didn't reach the previous threshhold of 20k

Being paid in cash can't be policed, but if those tips start going through a payment processor things may change  LOL.

[nocoolnamejane]

 

@2_little_time wrote:
and all of us pure bloods knew better all along.  

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[winterpalace25]

I may be the only person in Alabama who actually paid use taxes on my internet purchases on my state income tax returns. I don't have to do that anymore since the venues are collecting from me and paying the sales taxes to the states. 

[hot_finger_louie]

Please please my friend, it is not liberal or republican governance, it is the way this government runs business -- for the better good of all people, and if eBay comes to recognize one thing, it will be for the better good of all eBay sellers. Keep a positive attitude and spirit, this is what will keep you focus on the main objective, making a profit while keeping your sanity in a mad, mad, mad, mad, mad world.