(This post was last modified: 05-10-2022, 01:57 AM by Dave in KY.)
(05-10-2022, 01:20 AM)JimmyH Wrote:Sold much more in the past.(Even 1 of my motorcycles years ago) Guess I haven't hit the threshold yet recently. Thanks !(05-09-2022, 11:21 PM)Dave in KY Wrote:(05-09-2022, 12:34 PM)JimmyH Wrote: It involves new legislation that was passed hidden in a Covid relief bill believe it or not. Formerly ebay was not required to notify the government taxing authorities unless an ebay seller did 200 transactions and $20,000. Now it is simply $600.00 or more and you'll get a 1099 form at the end of the year. The same rules go for Paypal, Etsy, and any other third party go between in sales or in payment processing. This is why ebay wants tax #s and other personal info. Gov requires they do it. Definitely going to affect the bottom line. Elections have consequences.
Over a thousand transactions and they don't have my tax numbers so I'm not sure where you got that.
And I preferred using PayPal versus their new method which is just a way to cut PayPal out so they can make more money themselves.
You have to look for it .... but I got 'it' on ebay. All of 'em be doing that now ... 3rd party transactions ....
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