Quote:
Originally Posted by Yastrzemski Sports
It depends on what type of tax you are talking about.
Sales tax - do nothing. eBay does all of the work.
Income tax - $10k is a significant number. You should be getting a tax form from PayPal for that amount. You’ll have to claim it on your income taxes but would have to speak to an accountant as to how it affects you in your state.
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Just experienced a NY state sale where eBay charged the buyer NY state sales tax and then automatically withdrew that sales tax amount from my PayPal account. I was charged the PayPal fee for the entire purchase, which included the sales tax. So, I got stuck with paying the PayPal fee on the NY state sales tax. This really stinks.
