NEW tax laws

[wingsandthings]

If you sell over $600 all year, IRS want you to fill out a tax form called a 1099-K.

WHAT YOU NEED TO DO...keep all receipts, when you file make sure you show rental fee (if it was in storage), if purchased at an auction (show buyers premium/surcharges, miles to and from auction, cost for over-night stay, cost to list item on eBay & etc...itemized).  This will still cost the seller more money because they need to get HR Block or someone else to fill out your form.

Another way these As try to keep you down..but they can trade inside stock & pay nothing... 

[shipscript]

If you sell over $600 during one calendar year, the Congress has passed a law forcing eBay to issue a 1099k to you, the seller, with a copy to the IRS, so the IRS can make sure you are not cheating on your taxes.  If $600 is all a seller makes in a year, the trip to H&R Block is yet another tax on the seller. eBay has fought that legislation from the beginning, but I guess not enough sellers raised their voices with their congressional representatives.