Today I deleted about 120 listings-Done for the year already because of IRS 1099 2025 limits

[hiroprot]

Deleted 120 listings today. Just discovered that 2025 threshold for 1099’s drop to $2,500 (and just $600.00 in 2026) and zero guidance regarding can you document what you paid for items later sold and document profit only as income vs IRS assuming your gross sales are all income. Im done with EBay until 2026. Ebay and similar sites will wither away to nothing soon unless this stops.

[gloryglorygifts]

She has to use SE and C for self-employment. 

[thelongball]

" total rookie and little guidance anywhere on this. "

Question about this line that I can't figure out

You've been on eBay since 2000 and have made over 2000 sales. 

What is the definition of a rookie has me really confused

[greatmidwestcoin]

I don't understand why people have to announce things like this. Like, should we care? Seriously.

[kensgiftshop]

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@jg.mason wrote:

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@kensgiftshop wrote:

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If you use one of the programs they have now days, it's pretty easy and it takes you step by step.

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Great advice. I did my taxes in an hour and a half this morning using H&R Block software.

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I've been filing my taxes through Cash App last couple years and it's free.

[greatmidwestcoin]

Do you understand how easy it is to handle this tax issue yourself and at no cost to you? Debits and credits, that's all. And there is at least one FREE online software program that does it all for you automatically—WAVE. All you do is link your eBay account, checking/savings account, and any credit cards you may use to buy and sell items, ship, etc. WAVE imports every transaction from your linked account and categorizes them, learning along the way. eBay fees, shipping, sales, and purchases.

Why is everyone afraid to turn a tax form in versus not continuing to make a profit on eBay? Everyone has expenses - PO box, shipping, paper, ink, tape, boxes, and even mileage travel to and from the USPS. They all add up to various costs of running your business. I do not care how small you are. It is a walk in the park with WAVE. No, I don't own WAVE or profit in any way. But it works wonders for me with very little effort, and it's FREE. Quit being afraid of the word "taxes". 

[greatmidwestcoin]

No kidding. 🙄

[greatmidwestcoin]

That is funny, isn't it? lol

[stainlessenginecovers]

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@hiroprot wrote:

Deleted 120 listings today. Just discovered that 2025 threshold for 1099’s drop to $2,500 (and just $600.00 in 2026) and zero guidance regarding can you document what you paid for items later sold and document profit only as income vs IRS assuming your gross sales are all income. Im done with EBay until 2026. Ebay and similar sites will wither away to nothing soon unless this stops.

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It won't EVER stop because people that actually want to earn extra money know they have to 'pay taxes' on profits. 

If you have no profits, you can sell $100,000 worth in a year and just write it off appropriately.

Better yet, just take all your silver and coins to the nearest coin shop and be done. 

[greatmidwestcoin]

Some people can't accept the fact that if they are here selling, most consider it a business. Why people are so afraid to act like a business is beyond me. It's not rocket science. The Boogie man isn't hiding in your closet.

[greatmidwestcoin]

Sign up for an app named WAVE. It will solve all your problems and rest your fears. Need help? PM me.

[greatmidwestcoin]

No worries if you have the proper documentation for everything, and that's why I use WAVE.

When I worked for the USPS 30 years ago, I went to my postal inspector friends regarding a suspected long-distance phone charge abuse at an office. It was part of my job then to review phone bills from over 200 Post Offices. The Finance Inspector told me they would not investigate anything less than $25,000 as it was not cost-effective and they did not have the manpower. That was over 30 years ago.

Although things are more computerized, it still takes manpower.

[greatmidwestcoin]

Excel spreadsheets are old-school for this platform, as is Quicken. Several other apps do everything for you, including generating end-of-year reports, tax forms, and Schedule C. WAVE and LEDGER are free.

[greatmidwestcoin]

Absolutely - 90% of sellers here do not need a CPA to generate and file their returns, both for eBay and personal.

[greatmidwestcoin]

H&R is pretty much idiot-proof. That's where I come in. Last year, I ran my H&R-generated return in front of a CPA, and he literally asked me why I was in his office. He saw no problems.

[dy60609]

Another scofflaw bites the dust for another year😎