eBay

mysterytree · ‎12-29-2021

Is Ebay going to report sales income to the IRS? I have heard that anything over $600.00 would be reported and the sellers will get a income form to add to their yearly income taxes. Does anyone know about this or is it just hear say?

dq3141 · ‎12-31-2021

@ljsj2757 wrote:
it is true.. new 1099k threshold..

What?!???!!!11!?

albertabrightalberta · ‎12-31-2021

@luckythewinner wrote:
@mysterytree wrote:
Is Ebay going to report sales income to the IRS? I have heard that anything over $600.00 would be reported and the sellers will get a income form to add to their yearly income taxes. Does anyone know about this or is it just hear say?

The 1099-K is an informational for sent to the IRS to reflect the total dollar amount of the payments they process on behalf of a taxpayer. So "sellers" will not get an "income form" to "add" to their "taxes". Taxpayers will receive a 1099-K form reflecting payments processed that they need to account for on their tax return.

@mysterytree and others who seem to have not been reporting: Unless you've been keeping records of your basis, those "payments processed" will add to your income without anything to deduct from those payments!

albertabrightalberta
Volunteer Community Mentor

chapeau-noir · ‎12-31-2021

@jayjaspersgarage wrote:
"
They move to Florida:

1) to avoid the winter weather
2) to die."

3) to play Condo roulette?

4) To find Ron.

“The most common way people give up their power is by thinking they don’t have any.”
— Alice Walker

#freedomtoread
#readbannedbooks

dillsdprib · ‎12-31-2021

Tax evasion??!! 🤣🤣🤣🤣🤣

Oh my!!! ALL these years (when I was selling between 2009 to 2021) I NEVER reported my sales to the IRS! I considered myself a small time 'hobby' seller (didn't have an eBay store) who made a pittance.

I pay my annual income taxes on earnings from my work wages, IRA accounts, CD's, liquid savings accounts, and other personal investments which are reported as revenue. I pay for goods (new OR used) which also include taxes I'm paying for which ultimately go to a gov't entity.

With me so far??

I cannot fathom why some feel we as working law abiding tax payers have to report EVERYTHING to the gov't!! I don't understand why the small guy can't make an extra few dollars w/o the IRS trying to take everything I earn! People need to understand the gov't does not have the right to gain entry into your person accounts because absent minded people like the Secretary of Treasury Yellen thinks everyone isn't paying taxes. No, I'm not playing into socialist tactics so the gov't can take what I earn for my retirement and give it to those who desire what they don't work for!

Does every server, refuse collector, newspaper delivery person, grocery bag helper or the the boy who mows your lawn should have to report EVERY PENNY to the gov't because that's what it's sounds like you want them to do, don't you??!!

I don't think so that means everyone should obey to the gov't like Pavlov's dogs and PAY THEIR FAIR SHARE, right??!! WRONG!!

EBay never forced me to report my small time earnings for all those years, so if you ended up doing that, it's your fault not mine!!

People are ridiculous to think I have to report ALL my earnings to be taxed!! 🤣🤣🤣

buyselljack2016 · ‎12-31-2021

The hook is baited. The line is. Now just waiting for bites as we troll along.

You post should get some bites😂

dryophelia · ‎12-31-2021

@dillsdprib

You might get lucky and not get caught by the IRS, who ultimately will decide if your sales were free money or not.

There are rumours around the forums that there are IRS agents lurking and making notes about who is here boasting about their previous years of failing to report. Time will tell if those rumours are true.
This was my first year noticing a post from an eBay user who was audited and facing $10,000 (as I recall) in fines.
I expect 2022 will see a tsunami of these posts.

No one asked, but I am looking forward to the day when having feedback default sorted by relevance seems right.

huntersw_30 · ‎12-31-2021

I agree with you completely. The best analogy I can think of is the posted speed limits on our highways. I would venture a guess that only 10% of drivers actually obay the exact speed limit. I better keep my mouth shut, the government may just start cracking down on someone going a mile per hour over just to increase their revenue even more. You can burn, loot, steal and assult in many places in this country without any repercussions, but by god you don"t pay your fair share of income taxes and it"s off to the gulag you go.

downunder-61 · ‎12-31-2021

Yup - I will bite, because of the last line in the post you replied to and the poster decided to post on a public forum for ALL and sundry to read:

EBay never forced me to report my small time earnings for all those years, so if you ended up doing that, it's your fault not mine!! People are ridiculous to think I have to report ALL my earnings to be taxed!!

Like shooting fish in a barrel.......

********************************************************************
I have been imported from Australia and this is my posting ID

wildpitchsports · ‎12-31-2021

This is all I will say on these posts :

And now

The time is near

And so we face

The final curtain...

wizzardblizzard · ‎12-31-2021

We the people need to take back our freedom! Tyrannical government needs to be put in its place! Who approved such nonsense? Call your representative!