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  #1  
Old 10-17-2023, 05:34 PM
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Quote:
Originally Posted by CardPadre View Post
I feel like those people were already getting 1099s from hitting the 200 transactions and $20K combo threshold. Anything close to resembling a full-blown business would at least do that probably.

We should all pay our taxes, but this puts a lot of extra accounting burden on the shoulders of relatively low-earners in a lot of cases.
I know several ebayers that when it was 200/20K just used multiple accounts to stay under that threshold.
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  #2  
Old 10-17-2023, 06:46 PM
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Why do people think you only owe tax if you get a 1099?
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  #3  
Old 10-17-2023, 06:52 PM
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Originally Posted by Peter_Spaeth View Post
Why do people think you only owe tax if you get a 1099?
I do not believe anyone thinks that. It is more they are only going to pay taxes if they absolutely have to and a 1099 is making that happen.
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  #4  
Old 10-17-2023, 06:54 PM
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Originally Posted by bnorth View Post
I do not believe anyone thinks that. It is more they are only going to pay taxes if they absolutely have to and a 1099 is making that happen.
It was rhetorical. In any case I think you're likely to see more 1099s in the future.
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  #5  
Old 10-17-2023, 07:27 PM
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I sell 10k on eBay and the government wants their cut. However if I have a student loan out the government says don’t worry about. Makes complete sense, I get it now.
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  #6  
Old 10-17-2023, 07:42 PM
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Originally Posted by Flintboy View Post
I sell 10k on eBay and the government wants their cut. However if I have a student loan out the government says don’t worry about. Makes complete sense, I get it now.
Oh don't worry, the govt is still collecting on student loans. And the govt wouldn't need to go chasing down small potatoes from eBay sellers if billionaires were taxed fairly.
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  #7  
Old 10-17-2023, 10:27 PM
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I primarily sell on this platform, so not sure about all the nuances, but would you get a 1099 if you consigned through Probstein or Greg Morris or COMC and they sold on eBay? Do they get 1099s from eBay but then get a “free pass” as resellers/conduits? I would think Consignment businesses should get a boost in this scenario.
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  #8  
Old 10-19-2023, 07:40 AM
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Quote:
Originally Posted by bnorth View Post
I know several ebayers that when it was 200/20K just used multiple accounts to stay under that threshold.
So structuring....
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  #9  
Old 10-19-2023, 08:32 AM
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So structuring....
Yes, I have noticed it from bigger sellers for years. Now I have noticed the smaller sellers still doing it but with several accounts. Recently I was looking at a bat. I decided maybe if it didn't sell and they relisted it I would make an offer. It got relisted but from another account from the opposite side of the US. When I contacted the seller about it they said it was one of several of their accounts and not to worry they really owned the bat. All I know is I now own the bat.
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  #10  
Old 10-19-2023, 08:45 AM
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How can sellers use different accounts ? It's all tied to the same SSN #, yes ?
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  #11  
Old 10-19-2023, 09:54 AM
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Maybe they’re using multiple accounts for other reasons such as the limit of 250 free Buy It Now listings that each eBay seller account gets every month.
Last edited by bcbgcbrcb; 10-19-2023 at 09:55 AM.
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  #12  
Old 10-19-2023, 05:43 PM
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My daughter inherited some vintage dolls from my mom. She said keep one or two and sell the rest. The rest went for over 1k so she’s gonna get a 1099 for these things that we’re probably $1 in the 1960’s. A lot of folks like this not gonna be happy next April. I’m not a tax expert but wtf man
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  #13  
Old 10-19-2023, 05:59 PM
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Originally Posted by Popcorn View Post
My daughter inherited some vintage dolls from my mom. She said keep one or two and sell the rest. The rest went for over 1k so she’s gonna get a 1099 for these things that we’re probably $1 in the 1960’s. A lot of folks like this not gonna be happy next April. I’m not a tax expert but wtf man
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  #14  
Old 10-19-2023, 05:59 PM
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Quote:
Originally Posted by Popcorn View Post
My daughter inherited some vintage dolls from my mom. She said keep one or two and sell the rest. The rest went for over 1k so she’s gonna get a 1099 for these things that we’re probably $1 in the 1960’s. A lot of folks like this not gonna be happy next April. I’m not a tax expert but wtf man
She gets a stepped up basis so what they were worth in the 60s is irrelevant. Tax is owed only on any gain from when she inherited them.
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