Selling cars and trucks for eBay

[mm_auto_parts]

Hi guys, i am a seller of auto parts on ebay I have around 3 or 4 years selling auto parts, my question is the next i have some vehicles to sell, I would like sell it on ebay, when i create the ad and sold the car, the purchased is recorded to my 1099 taxes form??? Or you pay only the ad on ebay and is your responsibility get the payment cash or eBay pay ??? 

Somebody this group sell cars for eBay ?

[southern*sweet*tea]

Yes, the sale would be considered income, just like any other money you receive from other sources.

Ebay motors works differently than the main eBay site. There is no final value fee, only a flat one time non-refundable charge, and the price will vary depending on the listing package you choose.

Listing on Ebay motors is just like running a classified ad in a newspaper. Since you are dealing with titled property that involves a legal process to sell, any vehicle sales made on Ebay are non-binding - either buyer or seller can walk away at any time with no repercussions. All Ebay does is bring interested buyers and sellers together.

You can find the listing packages and pricing here: https://www.ebay.com/help/selling/fees-credits-invoices/motors-fees?id=4127

You can require a deposit, usually $500, to be paid online.  The rest of the sale is conducted in person, preferably for cash in hand.  Buyer hands you the cash, you hand them the keys and the title. 

[luckythewinner]

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@mm_auto_parts wrote:

Hi guys, i am a seller of auto parts on ebay I have around 3 or 4 years selling auto parts, my question is the next i have some vehicles to sell, I would like sell it on ebay, when i create the ad and sold the car, the purchased is recorded to my 1099 taxes form??? Or you pay only the ad on ebay and is your responsibility get the payment cash or eBay pay ??? 

Somebody this group sell cars for eBay ?

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The 1099-K from eBay Managed Payments reports payments processed by Managed Payments. It does not report the selling price. 

So if you sell your car through eBay Motors for $100,000 and the only payment that the buyer makes through Managed Payments is a deposit of $500, your Managed Payments 1099-K will report the $500 payment that was made through Managed Payments.

But if you sell your car through eBay Motors for $100,000 and the buyer pays the full price of $100,000 through Managed Payments, your Managed Payments 1099-K will report the $100,000 payment that was made through Managed Payments.