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QuakerMaid

  4 months ago

ONLINE SELLERS: Is the new tax law affecting your future of online selling?
Closed

The new law is that anyone with an income of over $600 for goods and services on any of the online payment platforms (PayPal, Venmo, eBay, etc.), will be 1099'd.
Previously, only people who made about $20,000 via these 3rd-party payment options were 1099'd.

Because of the new tax law, I've decided to quit selling on eBay and other sales sites.
I'm keeping the items I already listed on there because it takes so long to make a listing that I don't want all that work to go to waste. But no more items will be listed.

Beware for people who use online payments when they run garage sales. That is included in what's considered an income.
Reply

Pinktroll

  4 months ago
I hate to say this, but this is the Democratic Way. Give away tons of money that the government can't afford to make people feel better, then stick them in the behind to make them pay it back at more than double what they gave out. This new law is going to destroy the small business person who sells things online. Oh gee, I am so surprised. NOT.
1 comments

jkrasnick

  4 months ago
I only tried to sell something once and didn't get a single bid.
0 comments

pc1976

  4 months ago
I have never sold anything online.
0 comments

pdnr

  4 months ago
I didn't realize this was a new law. I know you can't earn more than $599 here on Toluna or any other survey site or p/t job without submitting information for a 1099. It doesn't surprise me though; the government is not just taxing the rich as they want us to believe in order to fund all these new programs.
2 comments

hohohot

  4 months ago
I've been selling on ebay for more than 20 years but these days its dwindled to a very few sold items. I guess it's a mixed blessing: would love to have $600 yearly sales but now I'll avoid Uncle Sam.
1 comments

Drago11

  4 months ago
Just keep electing the same disconnected stupid greedy people to office and expect different results. That should “fix” the problem. Uncle Sam must be paid. But that does not change the fact the tax man has always been a shameless money grabbing weasel. I would not feel that way if they didn’t waste soooo much taxdollars on really stupid stuff
This new tax is . Another fine example how Uncle Sam favors the wealthy and NOT people who are financially struggling. Millionaires and billionaires can stash away 100’s of millions of dollars tax free overseas. But some poor guy who selling stuff on eBay who has to choose between eating or keeping the electricity on.... has to pay taxes for anything sold over $600. Real nice huh? I’m surprised it didn’t happen sooner.
1 comments

Iam_kelsey1

  4 months ago
Yes
0 comments

riviera911477

  4 months ago
I do not sell anything...period, online or not. Good Luck to you!
0 comments

slycke1

  4 months ago
Got permanently BANNED from ebay when got out to go check my password or account number or some such and then tried to get back in to buy something! Was NOT happy, because still on the lookout for a Breyer Ruffian figurine--and ebay seems the only place it can be found these days. Sigh...
1 comments

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