ebay managed payments - anyone using this future mandatory service yet?

highgradelegends · #1 07-07-2020, 11:48 AM

Quote:

Originally Posted by thecatspajamas

I'm curious as to how you're doing this now? All of my buying and selling activity links back to the same Paypal account, so it has never occurred to me to split incoming funds between multiple Paypal accounts, but I am curious as to how you have this set up to do so? I'm assuming the subscription fees for the store itself link to a single account?

Answer:

I have a traditional checking bank account linked to my email address linked to a personal a paypal account.

My wife sells more higher value items than me on average and she has a traditional savings account linked to her email address linked to her personal paypal account.

On the ebay platform, when you create a listing, ebay asks you to manually type in the paypal account email address you want for payment. Sometimes ebay will use automation to plug in the default payment address you set up on your ebay account; however, you can manually changed it, either in individual listings or by editing listings in aggregate. So we use a single ebay store and then list our items in that same store, but each distinct auction listing is linked directly to the paypal accounts we choose. This has worked flawlessly for 10+ years. We have no need for two stores, so we are concerned we cannot do this present system of account in a single store, as we are not yet signed up to managed and cannot see how the listings link to new payments accounts. My fear is each ebay selling account requires its own payments account and that you cannot mix and match different payments accounts for various listings inside of a single store. I contacted ebay outsourced customer service and they could not explain to me how this will work. As a result, we have resisted the forced transition, but like others, have now run out of time.

If anyone is already using managed payments, I would like to know your feedback on how the payment accounts are linked to ebay stores.

C-mack · #2 07-07-2020, 12:05 PM

I love it! Let's the people pay with whatever and ebay collects the loot and 2 to 3 days later it's in my account with fees already taken out

teza11 · #3 07-07-2020, 09:28 PM

Another possible upside for sellers with more than 200 transactions and greater than $20k in sales is that the mid-year transition effectively resets the clock back to Jan 1. In other words, PayPal will base the issuance of their 2020 1099�s on sales from Jan 1 through eBays cut-over to managed payments. EBay will begin tracking and reporting 1099 sales from the go-live date of their managed payments program. So one could sell $39k between the two and not trigger a 1099. Just say�n. Not giving tax advice or encouraging anyone to not pay their taxes in full.

Jeff

Hot Springs Bathers · #4 07-07-2020, 09:44 PM

When did this officially begin. I don't sell much but I listed items yesterday with no problem. Is it just for eBay store accounts?

Jewish-collector · #5 07-08-2020, 08:05 PM

So are sellers that rarely list or list very low dollar amounts then not required to change to managed payments ?

thecatspajamas · #6 07-08-2020, 08:18 PM

At this point, it is only those who have been notified that they are being changed over. Anecdotally, it does appear that the more active selling accounts are the ones being notified, but eBay has not given a clear indication of what their criteria for who gets the forced switchover they are using.

earlywynnfan · #7 07-11-2020, 09:14 PM

Quote:

Originally Posted by teza11

Another possible upside for sellers with more than 200 transactions and greater than $20k in sales is that the mid-year transition effectively resets the clock back to Jan 1. In other words, PayPal will base the issuance of their 2020 1099�s on sales from Jan 1 through eBays cut-over to managed payments. EBay will begin tracking and reporting 1099 sales from the go-live date of their managed payments program. So one could sell $39k between the two and not trigger a 1099. Just say�n. Not giving tax advice or encouraging anyone to not pay their taxes in full.

Jeff

Are you sure about this? Doesn't ebay count transactions and payments even though they go through paypal? If I rack up 19K via paypal, then 19K the new way, I'd imagine I'd get a 1099 from ebay for 38K. Another headache for my accountant!

highgradelegends · #8 07-13-2020, 07:06 AM

Quote:

Originally Posted by earlywynnfan

Are you sure about this? Doesn't ebay count transactions and payments even though they go through paypal? If I rack up 19K via paypal, then 19K the new way, I'd imagine I'd get a 1099 from ebay for 38K. Another headache for my accountant!

Ebay and paypal do not coordinate or aggregate tax information. They are independent. PayPal is a fo financial institution. Ebay is not....well...until they have managed payments up and running. Bottom line: the temporary advantage stated here is correct.

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