mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@yuzuha wrote:
@pjsalerno wrote:Who said anything about hobby for profit income? @mam98031 simply has no understanding why selling old stuff for a loss that is lying around our homes should be taxed twice. Get a life, Snappy
If you aren't making a profit on it, then no, it won't be taxed. That doesn't mean you don't still have to report it as income.
Profit may have nothing to do with it. In my response to the poster I gave them a link to the IRS page that talks about Hobby Income, which is where they will find the answers as to whether or not they need to claim the income.
IRS doesn't mean "hobby" in the sense that most of us may think of it. They don't literally mean that the income came from proceeds of a hobby the taxpayer may have. Similarly many posters misunderstand the meaning of "business". Many think it means you are a formally / legally set up entity, which is does not.
https://www.irs.gov/newsroom/five-things-to-remember-about-hobby-income-and-expenses
@accountdeieted wrote:And yet,,, ebay allows Chinese sellers with fake contact info and fake paypal accounts. Think about it... Where is Ebays allegiances??? A: in money only.
I've read other posts on this subject before. IDK if it is true or not. If they are getting "fake" Paypal accounts, that is on PP to take care of that. As to Ebay, if there are some of these, it will be taken care of in the coming months as sellers from China are currently in the process of being onboarded to the MP program.
Ebay has to comply with the Federal Anti Money Laundering laws as well as the Banking rules that govern Money transmitters. They have no choice in this matter.
@accountdeieted wrote:I bought a graphics card on Ebay.. after some time it never arrived , when i tried contact the seller i recieved no response. When i tried to file a claim with Ebay using the ebay online forms it said they were unable to start a claim and did not give me a reason. After some research i finally got up with the seller who acknowledged that their Ebay account had been hacked and paypal information changed to an account in China. ( this became apparent when the sellers paypal info was all in Chinese) i tried to show this correspondence to eBay but they would not reply. I filed a claim with Paypal and it took two months but finally i got reimbursed.
mam98031 You can spout off Praises in defense of Ebay like the paid lackey that you are.
But i know what i experienced. EBAY DOESN'T CARE ABOUT ANYTHING BUT MONEY AND PROFIT.
Paypal is the same.
I get it that you are angry and in my post you are responding to I said IDK about Ebay "allowing" fake accounts. Apparently because I said that IDK, you take it to a different level. I get it, often when a poster feels really passionate about what they are posting, anyone that gets in the way of that rant or vent often ends up as the subject of their attack.
" mam98031 You can spout off Praises in defense of Ebay like the paid lackey that you are." Which is an example of that because I neither praised or defended Ebay but apparently because I didn't immediately accept what you said you felt the need to twist things up and say this. Simply mud slinging because I dare to ask anything.
@barneyfields wrote:I QUIT, I WON'T BE SELLING ON EBAY EVER AGAIN, AFTER ALMOST 20 YEARS IT ALL COMES TO AN END!
Now money goes to a bank account ... I have to wait until the money is actually there before I ship (7 to 10 business days) ... eBay is now able to draw money from that account ... WHEN EBAY GETS HACKED, WHO'S RESPONSIBLE FOR THE MONEY THAT'S TAKEN FROM MY ACCOUNT? WHEN EBAY TAKES MONEY FROM MY ACCOUNT, I CAN'T FIGHT IT, AS I AUTHORIZED THEM TO BE ABLE TO BE ABLE TO DO SO. JUST WHAT WAS WRONG WITH THE WAY THINGS WERE? WHAT WAS SO WRONG?
No need to yell at your fellow sellers. We understand your frustrations and your concerns. Yelling at us serves no purpose.
You have every right to be concerned, however I think much of what bothers you about the MP system isn't necessary. Ebay doesn't just remove money to be removing money. It has to be associated with your Ebay account and your MP account would need to be in a negative balance for them to even need to dip into your bank account.
For those that regularly monitor the activity in their MP account, it will not come as any surprise when or if Ebay has the need to cover a negative balance in MP from your attached checking account. I had this happen once just recently where there wasn't enough in my MP account to cover my Store fees. I received an email from Ebay letting me know that they would be dipping into my checking account to cover the fees and on what date they would be doing that. But before it was time for them to remove the money directly from my checking account by MP account had plenty in it to cover fees. So Ebay never touched my bank account.
As to waiting to ship until the money is in your bank account, that is a choice for each seller to make. Some do this and some don't. If this is what you prefer, then simply change your handling time to accommodate your change in policy so that your buyers are aware of your handling time. This is your choice to make. Do what is best for you, simply remember to change your handling time so you don't start racking up defects.
IDK that is it a forgone conclusion that Ebay will get hacked. It may or it may not. It is at risk to be hacked just like every single internet site is at risk for it, to include PP. You are wise to always be aware of this.
If you get money taken out of your Bank account by some hacker, then you can look to your bank for help on that situation. Banks have protocols for this type of situation.
@barneyfields wrote:I don't believe that eBay has my best interests at heart. Now I not only have to babysit my eBay account, I have to babysit my bank account. eBay has always been a mess but it worked. This was the final straw. eBay as made billions, eBay is down over 6% from last year, now eBay's gonna loose even more. GOODBYE!!!
How is that going to happen in MP? MP fees are pretty much a neutral change through the end of this month. Then come August 2nd when PP raises it rates, MP members will save more on fees as compared to if they were still with PP.
I don't "babysit" my bank account. Like most accounts that you can access online there are preferences that you can set up along with some security stuff. One of the preferences I have on my accounts is to email me when a deposit hits my account. No "babysitting" here at all.
