eBay 1099 issues

[CardPadre]

Originally Posted by bnorth

It is not because of people selling a few cards. It is because of a lot of people running what is basically a full blown business without paying any taxes.

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.

[bnorth]

Originally Posted by CardPadre

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.

[Peter_Spaeth]

Why do people think you only owe tax if you get a 1099?

[bnorth]

Originally Posted by Peter_Spaeth

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.

[Peter_Spaeth]

Originally Posted by bnorth

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.

[Flintboy]

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.

[BobbyStrawberry]

Originally Posted by Flintboy

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.

[toppcat]

Originally Posted by bnorth

I know several ebayers that when it was 200/20K just used multiple accounts to stay under that threshold.

So structuring....

[bnorth]

Originally Posted by toppcat

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.

[Jewish-collector]

How can sellers use different accounts ? It's all tied to the same SSN #, yes ?

[bcbgcbrcb]

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.

[Popcorn]

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