Want to say goodbye

[soloinnv]

Hi All,

I won't be selling on eBay any more due to the Nevada online sales tax laws. I'm not sure how often I'll be able to check in so I wanted to say goodbye to those of you who are still here.

This group has gotten me through some very rough times and I want to thank you all for the support you've given me. Stay well, stay safe and keep smiling!

[denise15601]

Sorry that you are having problems.  I have always claimed my profits from the time that I started to sell 17 years ago.

So it hasn't changed for me.  But I am in PA, so maybe that is the difference.

Take care,

Denise

[comics-scifi-collectibles]

@soloinnv   Sorry to see you go, you can still pop in here if you're not selling.   

What has changed about Nevada's tax law?   Are you referring to the new $600 1099K law that affects all states?  

• "No need to worry— you only pay taxes on profits. You won’t owe any taxes on something you sell for less than what you paid for it. For example, if you bought a bike for $1,000 last year and then sold it on eBay today for $700, that $700 you made would generally not be subject to income tax."

https://www.ebay.com/sellercenter/payments-and-fees/2022-changes-to-ebay-and-your-1099-k

[whotoldya]

Hello Denise and any others who are able to get in here ... It only lets me in now and then ...

I read and clicked into a place that says "Congress Has Voted That We Pay Taxes On Anything We Sell over $600 In A Year Will Receive A 1099 Form from Ebay the end of the year .  Now I can not find it

It was $20,000 for years ...

DWB

Please Respond If You Get This

DWB

[soloinnv]

Thanks for the info but that's not how Nevada works. We don't have a state income tax so they have decided that anyone who sells more than 2 items on a "facilitator" site has to apply for a resale license and become a retailer. The cost of the license is more than I've sold in the past 3 years so that's why I'm not selling on here or any other "facilitator" sites. A facilitator site is any site that processes payments. So it's in person cash only for me from here on in.

[comics-scifi-collectibles]

@soloinnv  That's just crazy!    I totally understand not wanting sell online anymore. 

Still hope to see you around here.   

[soloinnv]

Thanks Denise. When I had the active business and was selling thousands of dollars a year I filed both a Federal and NJ State tax return. But when the s**t hit the fan with my ex I closed the business and moved to Arkansas. At that time both the Federal and State tax laws didn't require a return if you were selling personal items. Everything is different now and since I'm barely making a few sales a year it's just not worth the effort. 

Plus I'm getting too old for all this! LOL

[soloinnv]

I'll pop in every now and then. And I still may list a few things. I've got to double check with NV tax office about whether selling personal items falls into it's category.  When I first moved here 8 years ago things were different. I loved living here. Now the greed and corruption have taken over completely. And I've lived in some of the most corrupt states in the Union! Most of my neighbors have left not just the complex but the state. I'm considering it too. But I can't ask my kitties to move again! We're all too old!

[soloinnv]

eBay sent an email back in May explaining it all. Not sure if this will work but I'm going to try and paste it here...

Tell Congress their new 1099-K rules are confusing and unnecessary

From:eBay

Sent:May-10-22 13:42

You may have heard about a new tax law that went into effect this year. We believe this new regulation just doesn’t make sense. It creates... speak out today and tell Congress to act in the interest of sellers across the US.

Here’s what’s happening Companies like eBay are required to report sales to the IRS using a tax form called a 1099-K. Until recently, you would only get a 1099-K if you sold over $20,000, or more than 200 items. Starting this year, new legislation has lowered that threshold to just $600, even if that was from a single sale all year. Where it gets complicated is you’ll get this form even if you don’t owe anything, because not all sales are taxable–for example, if you sell something for less than you paid for it. That means millions of sellers will now get unnecessary tax forms, creating confusion and pointless paperwork–both for the IRS, and for small-time sellers who aren’t set up to deal with it. Imagine selling an old bike for $800 that cost you $1,500 a few years ago. Since you didn’t make a profit, the IRS doesn’t consider that taxable income. But under this new law, you’re still going to get a 1099-K. And now you’ll have to prove to the IRS that you don’t actually owe any taxes on that sale, which makes for complicated accounting work.

Here’s what you can do We’re asking our community to take action today. Recently, new legislation was introduced in Congress to raise the threshold and limit the number of sellers getting these unnecessary forms. But we need your support to make sure it will pass! Go to our eBay Main Street website and tell Congress to act now to support Americans selling online. It will only take a few minutes, and if we succeed, it can save you, and millions of other sellers the hassle of needless tax forms for years to come.

[comics-scifi-collectibles]

@soloinnv   I would like your comment but our group that is in limbo won't let me.  LOL.  

I totally understand about not wanting to move.  I couldn't imagine it between my health issues and all of Keith's collectibles that we are still slowly selling off.    

I keep thinking about opening a starter store so I can send out coupons etc...  Then he says he's not going to let anything else go right now. Then in a couple of weeks he changes his mind and decides to sell more things.  LOL.