New tax rules for selling thru paypal,zelle,venmo.
- Thread starter PAUL C
- Start date
superjetkev
x-h2o
- Location
- downriver, ontario CANADA
I live in canada eh, and ive been hearing about paypal, ebay ect sending a 1099k to collect tax from anyone who recieves more then 600 bucks a year via payment apps. It used to be 20k and like 200 transactions before it was an issue. Has anyone else heard about this? Im not sure if is America only or what but that would sure change alot of things of a lot of different people tax wise. Apparently it was effective jan 1st
Not sure about Canada eh, but Ebay has gotten crazy with there rules and taxes. Not what it use to be. It's almost not worth it but I just needed to off some of my kids old snowboard gear and clothes and with no swaps anymore because of corona, I had no other choices.
Good luck with new rules
Good luck with new rules
CD155MX
Squirrel!!!
- Location
- Alta Loma, CA
Sounds like a lot of friends and family gifts are in everyone's future.
- Location
- missouri
"We have to pass the bill so that you can find out what is in it."
Big Kahuna
Administrator
- Location
- Tuscaloosa, AL
Need to give more info. If you keep your receipts from when you bought it. You can offset the difference from what you sold it for from what you paid.
Big Kahuna
Administrator
- Location
- Tuscaloosa, AL
Believe that quote was from Pelosi years ago regarding Obama Care or something.
- Location
- Charlotte, NC
cash will always be king.
CD155MX
Squirrel!!!
- Location
- Alta Loma, CA
This! Local sales will start to be a bigger deal again.
OCD Solutions
Original, Clean and Dependable Solutions
- Location
- Rentz, GA
Crap, I exceeded that amount last week alone.
- Location
- colorado
hey they gotta pay for the biden build back bloated plan somehow. just another method of taxing away the middle class
- Location
- Charlotte, NC
i hope we all go back to craigslist and cash!
Big Kahuna
Administrator
- Location
- Tuscaloosa, AL
Merged 2 threads about the same thing.
CD155MX
Squirrel!!!
- Location
- Alta Loma, CA
man FB marketplace and Offerup really killed Craigslist over the past few years.
mike b
Michael "Mayhem" Bevacqua aka MikeyChan
- Location
- California
Unfortunately there are no serial numbers on a lot of these parts. And if we buy them used then WTF. Then again I'm sure a handwritten receipt would suffice for a. Of time until that gets written in the rules that has to be from original manufacturer or whomever.
The big thing was you have to show receipts to make sure you paid more for it then when you sold it. So I guess if we are taking a loss we can take that loss out of our income.
This free world is looking less free. With the way things are going we might all start going to Mexico
The big thing was you have to show receipts to make sure you paid more for it then when you sold it. So I guess if we are taking a loss we can take that loss out of our income.
This free world is looking less free. With the way things are going we might all start going to Mexico
Mike W
Infidel
- Location
- North Florida
It was sold as a way to make the rich pay their “fair share”. Just another lie to f’k over the middle class.
- Location
- Syracuse Ny
Trash!!! Avoid paying taxes at all costs!!!! The government is so irresponsible with how they spend our tax money, all the money they send overseas angers me !!!!!!!!
The federal government has been making loan payments with more loans since 1982. Nobody else, states included, can do this for very long. The sales tax aspect makes sense because that goes to states. Federal 1099s are much more egregious. They are basically adding taxes to the poor while leaving the very wealthy alone alone with their token 15% capitol gains tax. This will never change without poor folks being very assertive, which means it will never change.