Starting 1/2022, after after 23 years as a Seller, must say Goodbye to eBay. Still a Buyer.

[foxhill99]

After having been retired for 11 years, the prices have outrun income. Ebay used to help make up for services such as dental, hearing and eye care, not covered by any of my policies, and my Son's funeral with no insurance.

Now, with the new filing requirements, "1 Transaction, $600.00 limits" it will just not be worth it.

Been a Good and Fun Run...., but alas, all things end. Just a bit peeved that it seems to always be the Little Guy who is asked to make up for the Big Guy's lack of paying their fair share.

Just MHO!   😉

[katzrul15]

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@foxhill99 wrote:

After having been retired for 11 years, the prices have outrun income. Ebay used to help make up for services such as dental, hearing and eye care, not covered by any of my policies, and my Son's funeral with no insurance.

Now, with the new filing requirements, "1 Transaction, $600.00 limits" it will just not be worth it.

Been a Good and Fun Run...., but alas, all things end. Just a bit peeved that it seems to always be the Little Guy who is asked to make up for the Big Guy's lack of paying their fair share.

Just MHO!   😉

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Unfortunately, all that is "new" is the 1099K "reporting" requirement.  The tax requirements, remain the same.  As they Always have............the income was always to be reported and tax potentially collected on same.

[fashunu4eeuh]

Just a bit peeved that it seems to always be the Little Guy who is asked to make up for the Big Guy's lack of paying their fair share.

Judging by the number of posts about it, apparently there are quite a number of guys (be they big or little or in-between), currently failing to pay their fair share, and not shy in their outrage.

[downunder-61]

Absolutely nothing has changed with regards to a seller reporting their income to the IRS.

You had 23 years of tax free selling I assume, while others who are also battling along have been paying their dues.

See here  Threads on tax law        for a wealth of comments and information to help you better understand.

[slippinjimmy]

How much income tax are you currently paying on your non-eBay earnings?

If you are on a fixed income like SS or a modest pension you can probably report quite a bit of additional income without ANY additional tax liability.

[evry1nositswindy]

Oh goody, another post about paying taxes.

Number of years on eBay...check

Thousands of transactions...check

Admitting to not paying taxes on thousands of transactions...check

Want sympathy for not paying taxes...check

Leaving ebay...check

[annadryl]

The customer should be covering this (as well as shipping, fees, everything) by your adjusted price. It's as simple as that. Raise the price a bit or... leave I guess. Good luck~

[frankienlola]

Admittedly doesn't pay "fair share" yet bashes others for not paying their "fair share".....how rich. BTW, what's a "fair share" and besides you who doesn't pay it and how do you know? Maybe you could provide a list? Then tell us what they do pay and what they should pay. Thanks!

[jayjaspersgarage]

"

Number of years on eBay...check

Thousands of transactions...check

Admitting to not paying taxes on thousands of transactions...check

Want sympathy for not paying taxes...check

Leaving ebay...check"

Don't forget:  Write the IRS a big check for back taxes and penalties...checkmate!

[chapeau-noir]

I can't figure out these pronouncements to begin with.  If I was evading paying taxes I sure wouldn't bloviate about it online.  Seems like one doesn't have much of a leg to stand on getting the Musks (blech) and Bozos of the world to pay their fair share if they don't pay their own fair share.

[Anonymous]

Yes, but only people who make more than $400,000.00 dollars will be taxed more! Just think, they didn't like the other guys tweets. Now we have this mess! 

[annadryl]

I think that's a reference to the tax-the-rich thing. Think billionaires who can take joyrides in space or a certain ex-guy who absolutely refuses to share his tax info.

Like the OP and many others, they had a loophole and took advantage. The REST of us covered for them.

[7606dennis]

I'm not quite understanding your reasoning.  You were suppose to be reporting the income you made from selling on eBay all along.  If you haven't been doing that there may be a case against you for income tax evasion.  The new 1099 ruling by the IRS merely lowers the minimum amount for requiring a 1099 be issued, it doesn't alter your liability for taxes other than making it harder to illegally evade paying them. 

[southern*sweet*tea]

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@foxhill99 wrote:

Now, with the new filing requirements, "1 Transaction, $600.00 limits" it will just not be worth it.

😉

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What new filing requirements?

The requirements for reporting income have not changed in decades. The only ones affected by this are the entities that process payments and send out 1099 forms.

YOUR responsibility has NOT CHANGED. Not one single bit...unless you haven't been living up to your responsibilities to begin with.

No sympathy. Zero, zip, none, nada.

[coolections]

So you went 11 years without paying taxes and now that you are caught and must pay like everyone else you are giving up ? OK