eBay BASEBALL for 2022 America VS 1099K OFFICIAL RULES

[rapidreplay]

RULES > BASE HITS / 1st 2nd 3rd PRODUCT HITS  / HOME RUNS and THE GRAND SLAM ITEM. AND the NASTY STRIKE OUTS 

very simple like eBay use to be. have a few items in your home like a simple PEZ DESPENSER  or old SUGAR BOWL SIMPLE.  And it provided a simple LIFE LINE for so many in a not so simple world with ups and downs for most anyone to get by and so many lives changed.

Today the game has changed for me. And I look at it like baseball. They use to let anybody play But now it's changing to the big game players ONLY. 

 THE RULES STILL APPLY  BUT WILL THE RULES APPLY EQUAL ? 

The BASE HIT > list a item and it's stuck on first base YOU DID NOT MAKE ANYTHING = sold it at a lost

2nd BASE ITEM > you made a buck YOU MADE A BUCK SHIPPED AT A LOST = STILL A LOST 

3rd BASE ITEM > You made a couple of bucks > But eBay GETS IT 

HOME PLATE RUN > you score WOW YOU made a little profit 

HOME RUN > WOW YOU DOUBLED YOUR MONEY LESS FEES 

THE GRAND SLAM. > YOU MAKE A PROFIT PLUS A FEW EXTRA BUCKS AS WELL > Just like a grand slam it's rare for MOM AND POPS But it can and does happen. BUT MORE RARE TODAY

Those NASTY STRIKE OUTS Today there are so many items you wished you never listed. TOO MANY AND IT  WILL COST YOU THE GAME 

 I was once told OH you eBay. " I through that was only for desperate people " The life line IN FACT I WAS PUTTING FOOD ON THE TABLE at that time. And again with this economy A lot is going to food and Medicine . But less of it due to high inflation. Seems life is a circle!

 Getting back to eBay Base Ball A NEW TEAM has entered the game 1099K to take what's left on the table

 And the game has gotten much harder today with too many players.  The big teams will be taking over.

  this new 1099K team makes their OWN RULES like THATS ALL PROFIT? What a JOKE they can even ruin a country ? NO NAMES and eBay does a good job of keeping me out of trouble! So no details or my post will disappear

Lets say you sold around 15000. for 2022  Now back in the 90's if a Business earned 15000 for the year 

THATS BANKRUTH But according to the system it does say it takes up to 2 to 7 years to get that number higher or business profitable.  WITH PROPER BACKING. 

Anyway at 15000 in sales you should get your proper losses. you may of sold 15000 but no way in hell DID YOU EARN 15000

When all is said and done you may of broke 1000.00 So lets say you only had one GRANDSLAM a COUPLE OF HOME RUNS. A FEW BASE HITS and a LOT OF STRIKE OUTS!  It took you a lot to earn 15000 and if you picked up items years ago remove MSR with added inflation cost and you only get half of what you paid for it. That is selling at a lost.. Like me I give a lot away. Keep in mind SOME MONEY IS BETTER THEN NO MONEY IN HARD TIMES!

So I tried it for 2022 and if 1099K wants to put us on the HAMSTER WHEEL and charge TAX on that TAX for 2023 to be taxed again and so on... And the poor item has been TAXED SO MUCH TILL THER IS NOTHING ON THE TABLE FOR ANYBODY!    FOR ME After 25 years of eBaying  I may have to pull the plug.  I just can't go Backwards at this age.  and I do fell sorry for the KIDS TODAY I Don't expect 2023 to be a good year. 

I have a meeting with my Tax person JAN 4  I may or may not be eBaying after that

Thank you eBay for the life line of 25 years it was a good ride when I needed it most. 

How did you do for 2022 ? If you have the money to pay the new TAX in the Bank from eBay your doing good. If not your going to go BACKWARDS It's a HAMPSTER WHEEL trap DIGGING A DEEPER HOLE

And for those of you who do have buckets of money from eBay. YOUR BLESSED  

[rapidreplay]

 I offend wonder how JOHNNY CASH got paid.  JUST MAKE THAT OUT TO CASH.  And the Beatles wrote TAX man. But I'm sure in those early days the gigs was always cash in those little clubs. And STEVE JOBS Had his days as well starting out. 

[yuzuha]

---

@rapidreplay wrote:

When all is said and done you may of broke 1000.00 So lets say you only had one GRANDSLAM a COUPLE OF HOME RUNS. A FEW BASE HITS and a LOT OF STRIKE OUTS!  It took you a lot to earn 15000 and if you picked up items years ago remove MSR with added inflation cost and you only get half of what you paid for it. That is selling at a lost.. Like me I give a lot away. Keep in mind SOME MONEY IS BETTER THEN NO MONEY IN HARD TIMES!

---

Yep, that's what happens sometimes. Sometimes the market prices for things go up and sometimes they go down.

But if you're selling stuff from around the house like an old sugar bowl, I'm not sure why the price going down would matter because you would (presumably) have bought the item for use and so any money you get for it when you're done using it and want to pass it on to someone else should be a plus. Even if you only make $5 on it, that's $5 you didn't have before.

[rapidreplay]

There has always been parameter's it was at 20.000. adjusted by law to  600. In fact in this economy they went the wrong way. They should rise it to 25000 

[rapidreplay]

If I was running eBay I would try to merge with Walmart and call it the WALBAY EXCHANGE.

eBays payroll must be like running a Military system just to keep track of it all. 

 AND COMPETION with AMAZON  I think 2023 will be a game changer for us all.

LETS  KEEP THINGS POSITIVE and call it A BRAVE NEW WORLD 

eBay has been a good thing for 25 years for me.  I worked with my customers and enjoyed it. And just knowing it was there for me when I needed it MOST was a good feeling. 

BUT WORLD IS CHANGING and eBay with it

[rapidreplay]

But if you're selling stuff from around the house like an old sugar bowl, I'm not sure why the price going down would matter because you would (presumably) have bought the item for use and so any money you get for it when you're done using it and want to pass it on to someone else should be a plus. Even if you only make $5 on it, that's $5 you didn't have before.

AND THAT IS THE THINKING. But what if I collected sugar bowls thinking they would hold value so I can sell them one day in the future when I retire, JUST LIKE BENNIE BABIES But then you fine out there is no market for them and you lost your entire life savings or investment in them.  And now your just selling them at a lost!  You have 5000 of them. Just two or three may be KEYS The rest sold at A buck each. better then nothing!  Right

 YOUR NOT MAKING NOTHING! IT'S A TOTAL LOSS.  But they want you to pay TAX on 5000 bucks. 

when It's total loss AND A SAD LOST FOR SO MANY FOLKS 

WE HAVE ALL SEEN IT

[dbfolks166mt]

There has always been parameter's it was at 20.000. adjusted by law to  600. In fact in this economy they went the wrong way. They should rise it to 25000 

     Maybe you could get them to raise the 1099-INT current threshold of $10 as well. The only people that really have issues with the new reporting threshold are those that have NOT been reporting income from their online sales when they were under the old $20K limit. 

     Even if you could get the Federal government to raise the reporting threshold you would then have to go after the individual states that have set their own reporting limits. I am in VA and they changed their reporting threshold in 2020. 

[dbfolks166mt]

 I offend wonder how JOHNNY CASH got paid.  JUST MAKE THAT OUT TO CASH.  And the Beatles wrote TAX man. But I'm sure in those early days the gigs was always cash in those little clubs. And STEVE JOBS Had his days as well starting out. 

     No doubt there are billions of dollars in cash movement that the government has no way to track or monitor a lot of which flows through illegal operations and money laundering activities. I doubt many of the drug dealers are filing income tax returns. 

     The government attempted to change the cash deposit reporting level from the current $10K to every single financial transaction that took place but that effort failed. There is a reason the government would like nothing better than to become a cashless economy but that would create a countless number of issues. 

[mam98031]

@rapidreplay 

" this new 1099K team makes their OWN RULES like THATS ALL PROFIT?"  Who is on this 1099K team?  I don't know what this means.  The numbers that appear on a 1099K are NOT PROFIT and never have been.  It is the Gross Receipts.  Which means the total amount of money that came into your MP account before any deductions for refunds, shipping fees or any other costs of sales [COGS].  So whomever told you it means it is all profit, they have mislead you.

You are NOT charged Income taxes on the amount that appears on your 1099K unless you CHOOSE not to take any deductions for COGS.  So if you do that, then it is on you not IRS.

I also hope you are aware that Ebay has NOTHING to do with this change on the 1099K, that was IRS and the Congress.  Ebay fought it for years and delayed the reduction in the threshold on this form.  But keep in mind, the tax laws did NOT change.  We have all ALWAYS suppose to have been reporting our income to the IRS with or without a 1099K.  IRS has no minimum threshold for reporting income.

You have a MAJOR misunderstand like so many others. The threshold on an IRS FORM, ANY FORM, does not set the minimum for reporting income to IRS. The 1099K is merely a FORM and nothing more.

When the minimum threshold on the FORM was 20K, that met that only those that made above that got the FORM. What it DID NOT mean was that anyone below that 20K did not have to report their income to the IRS. And that is likely what will get some people in trouble because they assumed something that was not ever based in FACT. IRS does NOT HAVE a minimum requirement on reporting your income. So even when the FORM threshold was 20K, those that made 15K, 10K, 5K, 1K, etc. were still responsible for reporting their income.

Everyone needs to remember that the 1099K is ONLY A FORM and nothing more. It does NOT set the minimum requirements to report income to the IRS. That would be like saying if you don't receive a 1099K for ANY type of income you receive, you don't have to report your income and that is ridiculous. The 1099K only covers internet related payments. It doesn't cover when people are paid by check or any other form. So to think that the 1099K has the power to set the minimum standard for all of IRS, all those people that are NOT paid via the internet would not have to claim their income, which we all should know is not true.

[chapeau-noir]

Gawd...my head hurts.

[dbfolks166mt]

Gawd...my head hurts.

EBay itself can do that to buyers and sellers. This forum sometimes makes it worse. 

[rapidreplay]

 There is a reason the government would like nothing better than to become a cashless economy but that would create a countless number of issues. 

That should start around JULY already being tested.  THE FED COIN 

[rapidreplay]

 So whomever told you it means it is all profit, they have mislead you.

 So at what point is PROFIT  Lets use the Governments U.S. MINIMIUN WAGE STANDARD as our starting point with listing and selling our 5 dollar item. FAIR IT'S USING THEIR NUMBERS FOR YOUR WORTH.

You are NOT charged Income taxes on the amount that appears on your 1099K unless you CHOOSE not to take any deductions for COGS.  So if you do that, then it is on you not IRS.

75 percent of eBay items sold on eBay sell at less then 1/2 of Fair market value as everybody looks for the DEAL. our 5 dollar item is already at a lost.. MSR was 25 dollars WHOLESALE 17.50  So let take that 12.50 dollar lost as well. But we paid Retail or more as a bad buy at auction.

I also hope you are aware that Ebay has NOTHING to do with this change on the 1099K, that was IRS and the Congress.

eBay is getting screwed too. eBay has always been there for me! My life line. 

You have a MAJOR misunderstand like so many others. The threshold on an IRS FORM, ANY FORM, does not set the minimum for reporting income to IRS. The 1099K is merely a FORM and nothing more.

SO WHY HAVE IT > If it's a MOOT point. Did they waste more time on MORE useless LAWS 

When the minimum threshold on the FORM was 20K, that met that only those that made above that got the FORM. What it DID NOT mean was that anyone below that 20K did not have to report their income to the IRS. And that is likely what will get some people in trouble because they assumed something that was not ever based in FACT. IRS does NOT HAVE a minimum requirement on reporting your income. So even when the FORM threshold was 20K, those that made 15K, 10K, 5K, 1K, etc. were still responsible for reporting their income.

AGAIN A MOOT POINT FOR THE FORM.. OUR 5 DOLLLAR ITEM that we lost over 50 dollars on when all is said and done is still a lost. But it did get my kids a McDonalds meal they where hungry. I got to sell a few more! 

Everyone needs to remember that the 1099K is ONLY A FORM and nothing more. It does NOT set the minimum requirements

WOW that makes me feel better. It's was all just a joke

Because I sold a 1000 of those items at 5 bucks to keep the kids eating and I can write off $50.000 in losses and feel good about it.  Because I was thinking I did not need to bother them with such high losses to keep food on the table and pay for other things due to the higher inflation just to keep warm. 

The 1099K only covers internet related payments. It doesn't cover when people are paid by check or any other form. So to think that the 1099K has the power to set the minimum standard for all of IRS, all those people that are NOT paid via the internet would not have to claim their income, which we all should know is not true.

 That makes me feel much better THANK YOU. All this time I was thinking that every eBayer was selling CHEEZE TOAST FOR 1000 bucks and they wanted a slice. 

I was just watching all the HOMELESS camps in CALIFORNIA WOW where are we going wrong. 

ADDING MORE PRESSURE.

Let me ask you a question LETS SAY you have a bunch of items that you can sell for 5 bucks on eBay Yes you did pay too much for the items. You have no income or limited income. You have hungry kids to feed as well. So you start selling them for anything you can get.  EACH week you made 100 dollars. 

YOU HAVE A CHOICE TO MAKE > FEED THE KIDS & PAY FOR HEAT or SAVE IT FOR TAXES  

 Lets also add this > IF YOU REPORT IT ON A 1099K Your thinking you may get any income or trying for as little as it may be CAN BE CUT DUE TO SELLING THOSE ITEMS EVEN AT LOST! 

[rapidreplay]

ME TOO.. eBay has always been my Life Line and I feel like THAT DOOR IS CLOSING ON ME.. 

[dbfolks166mt]

 There is a reason the government would like nothing better than to become a cashless economy but that would create a countless number of issues. 

That should start around JULY already being tested.  THE FED COIN 

     The intent of the pilot that is currently running is for financial institutions and not retail. It may become an option at some point but cash will be around for a LONG time. There are simply too many people that do not have CC's or debit cards or even have a bank account. Besides how are our politicians going to get their under the table kickbacks and bribes. 

[rapidreplay]

 Besides how are our politicians going to get their under the table kickbacks and bribes. 

As long as they have those 1099K's for reporting it.. As far as the FED COIN they have no choice They will Cancel the dollar. And already pulling the change out of the economy. The COIN STORTAGE  

I was just watching a homeless show called Los Angeles vs Philadelphia HOMELESS  SHOW CASE 

NO JOKE  Who has Nicer CARDBOARD BOXES & TENTS  to live in on the streets. 

Are we making things so difficult in AMERICA for small business and all BUSINESS overall that FOLKS have reached a point that they say

THE HELL WITH IT. 

There is no way that all those people are BAD PEOPLE!  I know some are BAD ACTORS like in any community. But Thousands & Thousands