PayPal 24% tax hold - Net54baseball.com Forums

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#27

01-12-2023, 08:33 AM

Fred

Member

Join Date: May 2009

Posts: 3,365

Bob,

We all know who the greatest lefty of all time is and we all agree who shouldn't be in the HOF...

What this tax reporting means to me is that if I ever decide to start selling on ebay or other platform that uses e-payments, then I better be prepared to have a full accounting items that are being sold (which includes purchase price of the items sold).

What a pain. Going forward, people better be prepared to treat this like a business with full accounting efforts. I'm going to guess that a lot of people that were buying/selling to add to a few bucks to their income or have a few extra "hobby" dollars are really going to dislike this. Selling cards will be like day-trading. Better keep tabs of everything.

__________________
fr3d c0wl3s - always looking for OJs and other 19th century stuff. PM or email me if you have something
cool you're looking to find a new home for.

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