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01-13-2017, 12:55 AM | #1 |
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Selling on eBay question
It has been over a year since I be sold anything on eBay.
At the time they were asking for social security numbers. Are ssn's now required and is your sales income reported to the IRS? Thanks. |
01-13-2017, 01:01 AM | #2 |
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Re: Selling on eBay question
If you were already an Ebay seller there is nothing that changes.
Log in to your account and sell. That's how it works here. |
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01-13-2017, 01:09 AM | #3 |
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Re: Selling on eBay question
Why wouldn't they make reports to the IRS? Don't you?
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01-13-2017, 01:53 AM | #4 |
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Re: Selling on eBay question
Big Brother at work! Social Security Number??? A similar thing was proposed here about 30 years ago and the government that did it was thrown out. We like our privacy.
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01-13-2017, 06:03 AM | #5 |
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Re: Selling on eBay question
just as it was before- no big deal if you want to sell a few thou of parts.........
adversely, nobody said you couldnt open a few accts in diff family members names......... especially your pooch! |
01-13-2017, 06:56 AM | #6 |
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Re: Selling on eBay question
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01-13-2017, 07:26 AM | #7 |
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Re: Selling on eBay question
EBay does not track your activity as it pertains to reporting anything to the IRS, it would be impossible for them to issue a 1099, they do not track the appropriate data to do that.
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01-13-2017, 07:39 AM | #8 |
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Re: Selling on eBay question
Yes but they do make all your activities available to the IRS.wayne
Last edited by C26Pinelake; 01-13-2017 at 10:32 AM. |
01-13-2017, 08:30 AM | #9 | |
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Re: Selling on eBay question
Quote:
http://smallbusiness.chron.com/irs-t...les-55145.html
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01-13-2017, 08:38 AM | #10 |
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Re: Selling on eBay question
Ebay also has a record of how much money you've received for everything you have ever sold. Not an issue now but it could be a future reference if tax laws change......
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01-13-2017, 08:40 AM | #11 |
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Re: Selling on eBay question
Mike is absolutely correct on that.
I recd that notice from ebay in 2011. |
01-13-2017, 02:37 PM | #12 |
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Re: Selling on eBay question
The IRS can get what they want whenever they want, we are way past 1984.
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01-13-2017, 03:29 PM | #13 |
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Re: Selling on eBay question
Circumvention of law to avoid the payment of taxes is illegal. The advice above is totally inappropriate and would subject you to prosecution under fraud laws. Wayne
yes, nobody ever opened an acct in their name and then one in their wives name.......... for benefit. |
01-13-2017, 03:36 PM | #14 | |
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Re: Selling on eBay question
Quote:
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01-13-2017, 04:17 PM | #15 |
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Re: Selling on eBay question
I guess you didnt enjoy my humor.
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01-13-2017, 04:48 PM | #16 |
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Re: Selling on eBay question
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01-13-2017, 05:09 PM | #17 |
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Re: Selling on eBay question
Seriously? in the USA you guys have to pay income tax on parts/cars sold? Then when you buy parts/cars they should be tax deductable. I get that if you are a business but not as a hobbyist. I must be misunderstanding something.
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01-13-2017, 05:24 PM | #18 |
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Re: Selling on eBay question
where do you live? I wanna go there.
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01-13-2017, 05:30 PM | #19 | |
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Re: Selling on eBay question
Quote:
So you get those professional ebay sellers as thier job that claim they didnt make anything during the last year. Thier the ones that ebay is their job so they go to garage sales, flea markets (why are they called flea markets anyways...), auctions, and estate sales buy a bunch of stuff for cheap that they know is worth something then resell it on ebay for profit. When we buy a car theres some kind of state tax that depends on the value of the car. In IL its the value of the car not what you paid for it even if it was given to you as a gift/inheritance. - UNLESS the inheretence or buyers name is already on the title. Im not entirely sure what happens when one sells a car - i dont know - we always drove ours into the ground or sold then for $500... very few people claim the extra income but its not like they go out of thier way to hunt down the petty middle/lower class offenders.
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01-13-2017, 05:41 PM | #20 |
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Re: Selling on eBay question
I know of someone that stopped selling on ebay at one point in the year because he was approaching the 1099 threshold.
The laws are very clear on how and when transactions need to be reported. Think about this.... I asked a question once about selling a car and reporting the transaction to the IRS. A tax accountant told me he knew of 2 cases where a person was audited and there was a large cash withdrawal. The people in both cases bought and antique car. The IRS then asked whom they bought the car from. Turns out the selle never reported the income (remember you can offset the profit of the car with all the receipts for the parts you bought, do not forget they should show sales tax paid). Needless to say a couple people were in hot water. |
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