eBay tax reporting changes

I am somewhere in between. I see this as removing a lot of smaller sellers, but those are some of the best deals on there. The "big sellers" are usually more expensive on Ebay than elsewhere due to fees.

I don't think Ebay would go bankrupt, but it would not be a stock I would want to own either. Personally if all the small sellers go I would not longer bother to look there any longer.

 

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25% is a massive increase for something that was doing 8 billion previously and is now over 10 billion. 25% would be nothing if you increased 10k, increasing 2 billion is never insignificant

The stock price almost doubling is absolutely relevant to a companies future providing capital and just another metric proving they arent going anywhere

Only fraudsters are worried about having to report it. The majority of small sellers have been reporting their sales as required for years. The 600 political targeting issue is a completely different conversation but makes no difference for anyone that has been reporting things already which they should have been. If a bunch of people who wanted to sell a couple items stop doing it who cares more will replace them.

 

I stopped selling anything on ebay specifically because of the 1099 change

 

I'm not pretending anything, they grew. They could lose 75% of their business and still be a multi billion dollar company. Sometimes I think people dont realize just how much a billion dollars much less multi billion is. 1% interest on a billion dollars would be 10 million dollars

Not exactly. It rarely goes up and stays up on failing companies. Their stock was stagnate for a long time. It's generally not a well run company that is successful because of what it is not how its run. The fact their stock finally did something is a marker worth noting

The membership here even if every single person actively used a 10 billion dollar company would be absolutely minuscule if they were all small sellers.

Anyone that stops selling simply because of a 1099 is basically just admitting they were committing tax fraud. Theres an argument to stop selling because of higher fees or eBay doing their own payouts but if that change alone stops you that just means you were cheating taxes

PayPal always had the access to it all and generated tax documents

 

Personally, I am way too paranoid to get anywhere near cheating on my taxes. It’s always the little guy they crush for the dumbest things. What I dont want is for ebay to have access to my social and generate paperwork going specifically to the IRS. I dont see any benefit to me with that setup, only possible problems.

 

I have been wanting to get back on Ebay and will someday. Always figured I would have to pay my taxes on any gain. The new rules don't mean much to me.

 

Lol this is such a bad look to resort to this instead of actual facts lol

 

Your own link disproved your theory. Commenting on people on this forum for their statements thats a bad look for an argument about a 10 billion dollar a year company. I've yet to see a legitimate argument other than I dont like it fr why they will supposedly fail

The funny part is I dont even really like eBay but I can still objectively see a company will exist that I barely use

 

Not on all sales and /or all the time...darned if I can figure it out. I frequently do not get charged sales tax for eBay purchases...seems always if from large sellers or larger purchases (single item or combined) but frequently not from smaller sellers or for smaller amounts...states don't seem to matter...it's just not consistent, hit/miss, etc.

 

I live in Calif. and I get taxed on every purchase I make. In the past I was only taxed if I purchased from a seller in my state but not other states.

 

I was reading this...Congress may I read MAY raise it to $5000.
I wouldn't bet on it.
Here's the link :https://www.wsj.com/articles/you-ma...side-hustle-now-the-irs-will-know-11650015000

 

by the way I'm almost 100% done selling on eBay. As I still have a couple of n scale train items up for sale & 1 coin

 

I personally believe that unsupported conjecture between 2 adults in changing times is foolish!

I personally know that something is happening as they have a large sum of my funds for a CACed Gold coin purchase.,

I purchased the coin late on Sunday, based on the published eBay statement that buyers have 4 days to pay.

I received a phone notice early Monday morning that my bank account was overdrawn, and a charge/funds were due before account is promptly closed.

The overdraft was generated by eBays' charge of less than 12 hours against my account.

Within 2 hours, I virtually immediately cashed series EE bonds and covered all charges.

EBay would not allow communications, so I wrote a complaint to Paypal, where eBay opened an action report.

EBay is not communicating when a complaint is submitted, and don't allow human interaction for a buyer.

The seller wrote that when he contacted EBay about not being able to access his funds, he was told to not send the purchased/paid product.

The Seller informed me on 3 occasions that the product wouldn't be sent.

I was told to resolve the matter with eBay!

The Seller stated that upon recovering some eBay funds, if I digitally signed a release, he would send a partial refund.

I contacted my funds transfer agent Paypal by phone, registered a complaint, and was assured they could resolve the matter within ~3 weeks.

The seller reported in writing that he can't access his funds, being told multiple times (hearsay) that he shouldn't/won't send the purchased item.

The seller sent a tracking number without sending anything.

It's been a week without USPS receiving anything.

A vague report appears to state the seller has received funds.

No feedback from eBay, Paypal, or Seller!

Something new is happening!

JMHO

 

Write your Congress person and blame them - this anger towards Ebay for the 1099 issue is misplaced.
https://www.wsj.com/articles/you-ma...ill-know-11650015000?siteid=yhoof2&yptr=yahoo

 

My question is: would this situation have arisen if the buyer had sufficient funds in the account being used to pay for the item purchased?

It may be conjecture that something out of the ordinary is happening.

I would not conclude that this is a eBay problem, or a PayPal problem, considering that a reverse of an overdraft, or deposit of financial instruments (including inter-banking linked funds) for the overdrawn account, can take 7 days. Then the official notification from the financial institution (the Bank) to the facilitator entity (PayPal) can take as much as 7-10 more days, when it is a challenged transaction.

Nor would I conclude the Seller has any obligation for the unfortunate circumstances experienced, and if I, as the Seller, encountered such difficulties in a transaction, I would not contact the Buyer, because doing so could have consequences that have a less than desirable effect on me.

I do appreciate the lesson of the situation experienced, , though, and that is, we should all make certain we have sufficient funds to cover a 3rd Party purchase before doing so, to safely navigate the complexities of modern day financial transactions.