doublegunshop.com - home Forums Thread Like Summary - Reporting Sales To The IRS Form 1099

I have a personal account on Ebay and Paypal. I sell a few non gun items and once in a while I sell a personal case or two or some used items. Well now both paypal and Ebay are requesting my social security#. if I sell $600 or more in a year they will report that as income to the IRS. Does not matter that it is my personal items, they still plan to report it. Its all reported as income. Even though it is not all profit and some is at a loss just to broom it out, it still gets reported as full income. Also, with all the data breaches I am very cautious about giving out my ss willy nilly as I have had my identity stolen twice.

I will expect gun broker will be next at this request

John Boyd

Use Amazon and eBay when you can benefit from them. You owe them nothing, they owe you nothing. When they no longer can provide a service worthy of your time someone will take their place who can.

Changes in their policies are not worth getting mad about. When they no longer provide you a worthy service, move on.

I'll tax the street
(If you try to sit, sit) I'll tax your seat
(If you get too cold, cold) I'll tax the heat
(If you take a walk, walk) I'll tax your feet...

Some things never change.

One of my associates goes to the Caribbean every winter from the second week of January until the end of March. It’s part of his agreement with the company, it’s no big deal.

When I asked how it was that he was able to accomplish that, He explained to me that his wife had an eBay business. And it was all PayPal.

Here is where the story got interesting.

It seems, she spends all of her time shopping thrift stores and rummage sales in the upscale suburban communities of south eastern Michigan.

She focuses on seasonal change over and leather goods, i.e., purses and shoes.

Her cash income is well into six figures.

As a person who pays his fair share of taxes, and doesn’t engage in elaborate schemes to avoid them, my preference is that those transactions are taxable.

It has become pretty obvious to me that the non-tax paying, income earning segment of our national workforce is growing exponentially.

Heck, you can go to the beach nowadays, and you will see entire families rolling coolers along selling bottles of water for two dollars apiece or more. Or the endless parade of restaurants that are cash only, because their computers are down.

No matter how far it has come, it is still, and always will be, a dung pit under the control of the same political party for about a hundred years.

Best,
Ted

______________________________________________________________
Home sweet home, if you be Lonny, or Insane Clown Posse.

Your late to the game Stanton

Barter exchanges are required to file Form 1099-B, Proceeds From Broker and Barter Exchange Transactions. From the IRS website


See there is no escape

John

Yes, barter may be a work around, but it could be draining to fend off an audit. Among neighbors and at the local flea market it's maybe good stuff, but with unknown actors, interstate, involving flagged items, can-o-worms? Private face to face where legal is a beautiful and most American of things.