eBay

my-cottage-books-and-antiques · ‎12-02-2021

https://community.ebay.com/t5/Announcements/A-big-change-to-federal-tax-reporting-laws-that-will-aff...

iart · ‎01-19-2022

@sidmund What you don't understand is that you have an unfair advantage over sellers who pay their taxes. You can afford to sell for about 20% less and you don't have to spend days on paperwork like the honest sellers do. If it's not this site, or the PO, or retail supplies raising our costs it's 'small sellers' robbing us on the other end.

italianstallion414 · ‎02-01-2022

So they can tax the small guy even more.

airbornecorporal · ‎02-22-2022

And this could be easily circumvented if ebay were to for once do something that would benefit sellers who keep them alive, rather than concentrating on filling their pockets as rapidly as possible.

They could go back to the way they used to do business, where I demand payment any way I desire, the bidder pays me directly, and then ebay bills me based on the sales I make. Then there is no third party payment process even involved, and the IRS cannot use that particular loophole to tax us on that income, as it would not apply anymore.

Don't anyone hold your breath that ebay will do that however, because they don't give a **bleep** about making seller's lives easier. Talking to my friends who sell on ebay, we will now simply be ensuring we don't sell over $600.00 a year so the IRS cannot steal anymore from us than necessary. Thanks to ebay for hammering sellers once again.

kamsgems21 · ‎03-05-2022

It is sad to hear that this new law has ruined such a wonderful hobby and business. You were providing such a great service to people. I wish our congress would read carefully the bills they pass and the harm they can do by not so doing. That is the least they can do with the money they make in these jobs. So many sellers were using eBay the same way. Congress currently is spending far too much and looking for any way to fund their massive spending plans which hurt hard working citizens. This is all sad and disturbing.

mr_lincoln · ‎03-05-2022

@kamsgems21 wrote:
It is sad to hear that this new law has ruined such a wonderful hobby and business. You were providing such a great service to people. I wish our congress would read carefully the bills they pass and the harm they can do by not so doing. That is the least they can do with the money they make in these jobs. So many sellers were using eBay the same way. Congress currently is spending far too much and looking for any way to fund their massive spending plans which hurt hard working citizens. This is all sad and disturbing.

Unfortunately @kamsgems21 I can not agree with that assessment or opinion ... the issue is not what the government did it is what people have been doing for years and that is not reporting their income from their potential internet sales. In basic terms members have come here moaning and complaining that they now have to report their income when they should have been doing it all along ...

What is "sad and disturbing" is that people have been intentionally dodging their tax responsibility for years ...

Regards,
Mr. Lincoln - Community Mentor

dbfolks166mt · ‎03-05-2022

O they read the bill and fully understood its implications. This was nothing more than a white wash job by the government to show how they were going to pay for the multi-billion dollar aid package they were passing. The problem is they had no basis in fact with regards to how much, if any, NET tax revenue this would generate. They are also trying to increase the budget of the IRS by xx billion, final figure not established since the budget has not passed, to aid in upgrading the IRS systems, hiring more people and conducting more audits.

Unfortunately the IRS is so far behind they have not even completed processing all the 2020 tax returns and there are millions still waiting on their refunds.

https://www.washingtonpost.com/politics/2022/02/11/irs-returns-backlog/

tekphantom · ‎03-05-2022

How the hell does the goverment know what I paid for something, or maybe I got it for free, or it was a gift, or I found it. Maybe I paid more, maybe less. This Tax crap is total B/S. Ebay is a giant online yard sale, I do not pay taxes on a yard sale, should not have to here either.

iart · ‎03-05-2022

If you don't have receipts, the IRS will act as though you did get the items for free.

People who haven't been paying their taxes are worrying about the wrong thing. Rather than worrying about paying taxes in the future, they should be worried about being audited for back taxes, interest and penalties.

mega-ma-roo · ‎03-05-2022

@iart wrote:
If you don't have receipts, the IRS will act as though you did get the items for free.

This is not necessarily true. Do a search for "the Cohan rule".

ALWAYS be honest and exceedingly FAIR!

The Volunteer eBay Community Mentor formerly known as juanmogamer

bullbuchananv1 · ‎04-04-2022

You may not be paying tax for things you sell at a yard sale, but you're supposed to if you make a profit. It's been in the tax code forever. It's just that most people don't get caught.

lagunas3 · ‎04-05-2022

Thanks for the info but i think it is **bleep** when most people resell stuff that is old

ciel0403 · ‎04-10-2022

How can you possibly make a profit at a yard sale? Everything you sell you sell at a loss since you normally price items at 10% less than you payed for them. Where is the profit in selling a pair of jeans you payed $60 for $6??? That sounds like a giant loss to me.

dhbookds · ‎04-10-2022

@ciel0403 wrote:
How can you possibly make a profit at a yard sale? Everything you sell you sell at a loss since you normally price items at 10% less than you payed for them. Where is the profit in selling a pair of jeans you payed $60 for $6??? That sounds like a giant loss to me.

A number of people around resell at yard sales... buy box lots at auctions, sell the "good stuff" somewhere and put the left overs out in a flea market. I highly doubt the IRS will come after them, but some cities/subdivisions require permits and/or restrict the number of sales that can be given in a yr.

dhbookds · ‎04-10-2022

@dhbookds wrote:
@ciel0403 wrote:
How can you possibly make a profit at a yard sale? Everything you sell you sell at a loss since you normally price items at 10% less than you payed for them. Where is the profit in selling a pair of jeans you payed $60 for $6??? That sounds like a giant loss to me.

A number of people around resell at yard sales... buy box lots at auctions, sell the "good stuff" somewhere and put the left overs out in a ~~flea market~~. I highly doubt the IRS will come after them, but some cities/subdivisions require permits and/or restrict the number of sales that can be given in a yr.

oops....... correction: garage sale.....