Selling my company's used computer equipment

[halots15]

Hi everyone,

I work in my company's IT Department and we have quite a few used older laptops and PCs that we'd like to sell on eBay. I can sell these under my personal eBay account and give the money to my company but I'm not sure of the IRS ramifications of doing this. Should I open a business eBay account on behalf of my company and sell from there instead?

Thanks in advance for your help!

[dalo4242]

Should I open a business eBay account on behalf of my company and sell from there instead?
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Yes and a separate PayPal account as well

[emerald40]

You do realize that buyers can file claims up to 6 months.

So is your company prepared for you to hang on to that money until it is too late for a buyer to file?

If not then imo do not list under your own account as you could the one handing over your own money.

[sam9876]

Why does your company want to sell them on eBay?

[adkhighker]

Hmmm, if you're doing something that's not for profit on your own personal ebay account, then I don't think that you, personally, would have to bother with the IRS. However, whoever owns the laptops are the ones who should have to worry about it after you give them the proceeds for it. Then they can claim it however they need to.

Personally there is no way I'd open a business account on behalf of your company for doing what you're describing. if you do, there's a chance you could run into a complicated mess if you plan on doing it in accodance with the IRS. Let your boss sell them on his or her own account, and offer to shovel their driveway instead! 😉

[luckythewinner]

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@halots15 wrote:

I'm not sure of the IRS ramifications of doing this.

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If you do not setup up a company eBay account and a company PayPal account (backed by a company credit card or bank account), I would suggest you are begging for problems. 

The IRS ramifications would be that the IRS would I assume the income was yours until you prove otherwise. 

[a_c_green · Accepted solution]

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@halots15 wrote:

I work in my company's IT Department and we have quite a few used older laptops and PCs that we'd like to sell on eBay. I can sell these under my personal eBay account and give the money to my company but I'm not sure of the IRS ramifications of doing this. Should I open a business eBay account on behalf of my company and sell from there instead?

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The IRS would be the least of your problems; you could probably produce sufficient paperwork for the IRS to show who profits from the sale. As for everything else, pick your nightmare:

• Buyers who raid the computers for parts and then want to return the equipment
• Buyers who claim shipping damage (especially for the PCs, which require a lot of safe packaging) and then want to return the equipment
• Buyers who just plain rip you off for the computers via one of several possible schemes. Laptops in particular are one of the highest scammed categories on eBay, and neither your own account nor (especially) a newly-created account would show a high-enough selling feedback count to deter any scammers. You would also need to factor in whether you're skilled enough to recognize a scam when it's occurring.

In short, sell them locally for cash, so that when they leave your place, they're gone for good, and you have the money in hand.

[atikovi]

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@a_c_green wrote:

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The IRS would be the least of your problems; you could probably produce sufficient paperwork for the IRS to show who profits from the sale.

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What profits? Computer bought 3 years ago for $1,000 sold now for $200.

[coffeebean832]

Did your company consider donating them to a good cause and taking the tax write-off?

If you're determined to sell them, do what others said- create an eBay ID and PayPal account for your company that's not tied to your personal account and explain to them what will happen if somebody files a paypal or credit card claim 6 months down the line.

Don't log in to your personal eBay account from the office and don't log in to your company's eBay account from home. It can link your accounts so if one gets suspended down the line the other will be affected.

[atikovi]

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@coffeebean832 wrote:

Don't log in to your personal eBay account from the office and don't log in to your company's eBay account from home. It can link your accounts so if one gets suspended down the line the other will be affected.

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???

[a_c_green]

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@atikovi wrote:

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@a_c_green wrote:

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The IRS would be the least of your problems; you could probably produce sufficient paperwork for the IRS to show who profits from the sale.

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What profits? Computer bought 3 years ago for $1,000 sold now for $200.

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Well, no argument there -- I suppose the IRS might want documentation on who spent the $1,000 as compared to who just made $200 on the sale, but whatever; as I said, the IRS would be the least of your problems in this situation.

[18704d]

@halots15

Your Company should create an eBay account to sell these.

With Their Company and address as the seller   AND

THEIR Paypal account paying the fees, and to be paid too.

Then

they can give you the password allowing You to run it on their behalf.

With them having all appropriate risks.

Or  Do  Not  Do It

You risk losing both 'your' money, and your job.

Lynn

[impalajohnny]

 Will you be feilding questions, packing and shipping, handling possible returns, etc, during office hours or on your own time? I'm guessing your boss will expect you to handle this computer business on your own time for no extra pay and take on all the liability of scams and returns, and figure out your taxes. Maybe I'm wrong?

I'd suggest if you want to be in the computer business you offer to buy the computers cheap and you sell them yourself for a profit in your own time and way. Or you offer to set up an account for the company that you will spend as much or as little time as they want managing while you are on the clock.

[rainbowcolorz]

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@coffeebean832 wrote:

Don't log in to your personal eBay account from the office and don't log in to your company's eBay account from home. It can link your accounts so if one gets suspended down the line the other will be affected.

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On the sign-in screen there's a box that eBay says to uncheck if you are logging in from a public computer ... I can't remember the exact words ... maybe it also says if you are logging in from someone else's computer?

There's a computer at the VA and when I was there over-night waiting for someone to be released, I wanted to check my eBay and logged in from there, as did plenty of people.   

Once when my mom was very sick , I was there for a few days but had to check my eBay so I logged in to my eBay using her computer.  I had no choice.  

Never had a problem.  

[atikovi]

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@rainbowcolorz wrote:

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@coffeebean832 wrote:

Don't log in to your personal eBay account from the office and don't log in to your company's eBay account from home. It can link your accounts so if one gets suspended down the line the other will be affected.

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On the sign-in screen there's a box that eBay says to uncheck if you are logging in from a public computer ... I can't remember the exact words ... maybe it also says if you are logging in from someone else's computer?

There's a computer at the VA and when I was there over-night waiting for someone to be released, I wanted to check my eBay and logged in from there, as did plenty of people.   

Once when my mom was very sick , I was there for a few days but had to check my eBay so I logged in to my eBay using her computer.  I had no choice.  

Never had a problem.   

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I think that is just one of Ebay's urban myths.