eBay 1099 issues

[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.

[h2oya311]

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.