Hello to everyone. I mostly sale my own used stuff, why I have to again pay income tax, not fare at

[dbfolks166mt]

Also let me add that Ebay had NOTHING, ZERO to do with the 1099K change.  In fact you might consider thanking Ebay as this change was on the table for a long time BEFORE it actually passed Congress.  It was sites like Ebay and Amazon that fought this change long and hard that delayed it as long as it did.

Now it is Ebay and other sites that are fighting hard to get the threshold raised.  A little research goes a long ways.

But again, the threshold on a FORM, ANY IRS form does not set the minimum requirement for reporting income.  It is a darn form and nothing more than that.  So even if they raise the threshold on the 1099K to $5 or $10 thousand, those that have a GROSS sales less than that will STILL need to report their numbers to the IRS.

     Make no mistake about eBay, Amazon or any other ecommerce company that fought against this change for so long, lost, and now are fighting to get the limit raised, it was their own interest that fueled the fight not their concern for the sellers. 

[chapeau-noir]

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@coolections wrote:

I am not allowed to bash the IRS here on the boards as it makes people angry. What I can say is if you do not like the new tax system write your congressman.

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It's tax evasion that seems to annoy people.

[simba6]

The US government spends a LOT of money.  

[dbfolks166mt]

The US government spends a LOT of money.  

A LOT more than they collect in taxes. One of the few entities that can survive managing a budget in that manner.  

[the_fancy_fox]

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@dryophelia wrote:

You pay income tax because it’s income. 

When you purchased the item originally, you paid sales tax. 
Your buyer may also pay sales tax when buying from you, unless they are in one of the hand full of states without sales tax. 

If you feel this in unfair, you should contact your state legislators and voice your concerns. These are the people who can change it. 
But they aren’t going to change it. The revenue generated by online sales is enormous. Now that they can see how much $$ is pouring in everyday, they will never go back. 

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You don’t pay taxes on a loss. If these are your personal items sold at a loss you don’t pay income tax on it. 

one does have to account for all the money on the 1099 showing profit or loss.

[yuzuha]

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@chapeau-noir wrote:

Lawdy - you have twice the stuff running as I do and I make part of my living here. 😣

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Right? It's very hard to believe the claims of "I'm just selling my own used stuff" in cases like this.

[mam98031]

Yes I know, thank you.  I thought I said that.

[chapeau-noir]

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@yuzuha wrote:

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@chapeau-noir wrote:

Lawdy - you have twice the stuff running as I do and I make part of my living here. 😣

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Right? It's very hard to believe the claims of "I'm just selling my own used stuff" in cases like this.

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My "own used stuff" is like old bike parts, old tech, some clothing and books.  I doubt I own in my entire life what the OP has listed - I have to have it consigned to me or find it.

Also, I don't mind paying taxes - just wish more were returned to we plebs in the form of services rather than just given away to the super-wealthy. 😣

[tukin1915]

i dont have recits on my used clothes, how i can proof it is no profit?????

[buyselljack2016]

Wow....................  nearly a year. Time sure flys when we are having fun.

[kh-ornesh]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread HERE if you wish to continue to discuss this topic.

Thank you for understanding.