Reminder: Jan 1 PayPal, Venmo, eBay payments will be reported as income 2.0 (wages, middle east)

[andywire]

Folks better start saving their shipping receipts. Ebay counts the shipping money you collect as income (maybe to inflate your ego?) and I'm pretty sure it's reported as income to the IRS. People who do not deduct the shipping are going to be in for a world of pain when they get that tax bill and can't prove how much they paid in shipping.


This is going to be it for me selling online. I'm done. I had my fun. I made my money. Now I'm moving on to the next chapter in my life, whatever it may be. Heck, maybe it's time I start visiting other countries. America is looking like a has been on the way down with this current regime in charge. Trump gave me hope that freedom would prevail, but the dark clouds have gathered and the parasites are gnawing at the bones and scraps of this nation. It is sad, but we were warned by the founding fathers what would happen if we allowed it, and the majority did not listen.

[erieguy]

Originally Posted by djohnslaw

For anyone saying they aren't gonna go after the little guy-if that's true why was the reporting amount lowered from 20k to a laughable 600 dollars.

I get Biden doesn't know where he is most of the time so maybe he still thinks 600 dollars is a lot of money like when he was a kid but how anyone else can justify this is beyond me.

Gotta collect more money for the free stuff folks. Millions depend on taxpayers for it.

[andywire]

Originally Posted by erieguy

Gotta collect more money for the free stuff folks. Millions depend on taxpayers for it.

Billions actually. Don't forget Al Qaeda and ISIS getting free weapons. Don't forget about all the food and aid we send abroad. The USA is a global charity. That's part of why this nation is trillions of dollars in debt. And don't forget about all the nation building abroad, while our infrastructure is literally crumbing and bridges are falling down.

[erieguy]

Originally Posted by andywire

Billions actually. Don't forget Al Qaeda and ISIS getting free weapons. Don't forget about all the food and aid we send abroad. The USA is a global charity. That's part of why this nation is trillions of dollars in debt. And don't forget about all the nation building abroad, while our infrastructure is literally crumbing and bridges are falling down.

Bingo

Because Trump should’ve upgraded those Obuma phones and promised more stimmies, extra money, child credits, etc…

[antinimby]

Originally Posted by andywire

Billions actually. Don't forget Al Qaeda and ISIS getting free weapons. Don't forget about all the food and aid we send abroad. The USA is a global charity. That's part of why this nation is trillions of dollars in debt. And don't forget about all the nation building abroad, while our infrastructure is literally crumbing and bridges are falling down.

And after giving everyone so much of our money, we still end up getting hated.

“No good deed,...”

[erieguy]

Originally Posted by antinimby

And after giving everyone so much of our money, we still end up getting hated.

“No good deed,...”

Entitled folks think they deserve everything they get and more. They think folks that have more than them are big meanies that don’t deserve what they’ve worked for.

[RetireinPA]

Originally Posted by andywire

Folks better start saving their shipping receipts. Ebay counts the shipping money you collect as income (maybe to inflate your ego?) and I'm pretty sure it's reported as income to the IRS. People who do not deduct the shipping are going to be in for a world of pain when they get that tax bill and can't prove how much they paid in shipping.


This is going to be it for me selling online. I'm done. I had my fun. I made my money. Now I'm moving on to the next chapter in my life, whatever it may be. Heck, maybe it's time I start visiting other countries. America is looking like a has been on the way down with this current regime in charge. Trump gave me hope that freedom would prevail, but the dark clouds have gathered and the parasites are gnawing at the bones and scraps of this nation. It is sad, but we were warned by the founding fathers what would happen if we allowed it, and the majority did not listen.

I left ebay like 6 years ago. I restore and sell vintage audio - silver face from the 70s and early 80s. was selling on ebay. then ebay and paypal changed policies....6 month unconditional money back for 'SNAD', but to add insult to injury, if it was electronics, the buyer did not have to return it. so, given that many people will resort to crime if you let them, people would buy a piece, at 5 months 29 days open a snad, get a full refund, keep it, and in some cases sell it themselves on ebay. didnt happen to me, but happened to a lot of fellow restorers on the AK so I dropped. it cost on average $500 net each month....

[clutchcargo777]

Originally Posted by Oldhag1

See if this helps -

From Turbo Tax:
It seems that you could call it a gift and look up the original value.

Lol... "Vintage nut grinder". That's my new nickname for my ex-wife.

[ChrisC]

Originally Posted by andywire

This is going to be it for me selling online. I'm done. I had my fun....

Yep. Local, cash sales from this point on. And as few of those as possible. If it is an unwanted old item that is worth less than about a hundred dollars... it simply goes into the garbage can if it can't be sold locally for cash. Selling it is not worth the hassle. In fact, buying things in the first place that may later be unwanted is going to stop as well. I wonder what the IRS would do if most people simply stopped doing most of their buying and selling. Little commerce. How would they fix that problem they caused?

In fact, I'm becoming more and more negative about the "internet" in general. It's over-regulated, over-documented, over-surveilled, over-priced, and over-commercialized. Like most everything else, big government and big business has screwed it up.

[Submariner]

We have always been required to report all income, from all sources.