Quote:
Originally Posted by bnorth
Got a message from eBay today urging me to urge Congress to raise the tax reporting threshold. I would imagine the new $600 level is killing their bottom line.
In the items I look for there are way less now than last year. I have noticed as the year goes on the selection has gotten even worse. Even the sellers with several accounts I know quit selling months ago to avoid the $600 threshold for each account.
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my eBay buying is down over 250% lately; lot less listings the last few months of reasonably priced items (defined as items that might actually sell and are not listed as a digital museum). I think next year is when the listings will really evaporate. A lot of casual sellers and collectors selling some extras do not really understand this yet, and are going to be shocked when they get a 1099 that assumes 100% of their sales were 100% profit and taxable at 25-50% rates.
Such a bill doesn't seem plausible. It could pass the House but would seem to be DOA in the Senate next year too. I don't think writing a congressman ever works, something tells me mine does not care what I think.