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Why is this necessary for payouts
Why is ebay requiring me to enter my SSN before getting my money for a sale when it is not yet necessary since I have just started selling and have not made the minimum amount required for ebay to be involved in my tax information? It was not stated beforehand that entering my social would be required to get paid. If I had known that, I would not have gone through with selling on ebay. Now I have already made the sale and cannot get paid for it without entering this level of personal information which ebay technically does not need. Is there a way to skip entering SSN until if/when the minimum sales are made? (which I doubt will happen anyway since I am just selling a couple random things as I clean out my house)
lisa5768
Mentor11 months ago@person7616
eBay is required to follow the law and get proof of identity to comply with anti money laundering laws as well as IRS regulations regardless of whether you are sent a federal 1099K or not. Also your state may have a lower threshold for a state 1099K. If you want to get paid you need to provide it, if not your money will eventually (usually 2+ years) be turned over to your state so you can claim it from them.
https://www.ebay.com/help/selling/getting-paid/registering-seller?id=4792