Quote:
Originally Posted by bobbyw8469
Forgive me if this has already been mentioned. With the tax threshold being dropped on Ebay from $20k to a measley $600, will that affect people selling on EBay??? I was just curious.
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It has been discussed many many times recently. I think it already has made a difference it what I buy/watch on eBay. Nobody wants the hassle for selling a few items they no longer use. In our hobby I know a few collectors that sell old stuff they no longer want to buy new items and now a couple have just said F'it and are done collecting.
I mainly wonder what the unlicensed non tax paying "Dealers" are going to do. One I know of still has a ton of stuff listed on eBay.
Bobby what are you personally going to do?
I rarely sell on eBay but have a bunch of oddball stuff I need to sell that will be over $600. I will probably sell some cards also. I need to talk to my current tax adviser but my guess is I will just have to pay income tax on the total because most of it was bought several years to decades ago and I have no proof of purchase price.