TOPIC: Ebay Question (mainly aimed at Sellers)

Have you notice that you need to supply your SSN to continue selling on eBay? I am assuming this means that eBay has given up the fight and is going to be reporting sales to the IRS. I hope everyone has their books in good shape if they get audited.

George wrote: Have you notice that you need to supply your SSN to continue selling on eBay? I am assuming this means that eBay has given up the fight and is going to be reporting sales to the IRS. I hope everyone has their books in good shape if they get audited.

Always do. I have quick books for the businesses.
Yea new law is any sale or total sales over 600$ gets a 1099( or whatever the form is) and it’s sent to the IRS

There is no hope for me in getting my books fixed. I did almost all of my trades for gold and many of my purchases from Jeff in cash at GENCON. Just another reason you are a big Trader and I am a little one

lazlo_hollyfeld1985 wrote:

George wrote: Have you notice that you need to supply your SSN to continue selling on eBay? I am assuming this means that eBay has given up the fight and is going to be reporting sales to the IRS. I hope everyone has their books in good shape if they get audited.

Always do. I have quick books for the businesses.
Yea new law is any sale or total sales over 600$ gets a 1099( or whatever the form is) and it’s sent to the IRS

I think that new law kicks in next year, and the rest of this year is still under the old law (they report if you sell more than 200 auctions or $20,000).

I'm not sure I've had to provide my SSN yet, but maybe I did and just forgot.

Mike Steele wrote:

lazlo_hollyfeld1985 wrote:

George wrote: Have you notice that you need to supply your SSN to continue selling on eBay? I am assuming this means that eBay has given up the fight and is going to be reporting sales to the IRS. I hope everyone has their books in good shape if they get audited.

Always do. I have quick books for the businesses.
Yea new law is any sale or total sales over 600$ gets a 1099( or whatever the form is) and it’s sent to the IRS

I think that new law kicks in next year, and the rest of this year is still under the old law (they report if you sell more than 200 auctions or $20,000).

I'm not sure I've had to provide my SSN yet, but maybe I did and just forgot.

My understanding is the same as Mike's next year it will be over $600, this year is still 200 or $20k.

David Harris wrote:

Mike Steele wrote:

lazlo_hollyfeld1985 wrote:

George wrote: Have you notice that you need to supply your SSN to continue selling on eBay? I am assuming this means that eBay has given up the fight and is going to be reporting sales to the IRS. I hope everyone has their books in good shape if they get audited.

Always do. I have quick books for the businesses.
Yea new law is any sale or total sales over 600$ gets a 1099( or whatever the form is) and it’s sent to the IRS

I think that new law kicks in next year, and the rest of this year is still under the old law (they report if you sell more than 200 auctions or $20,000).

I'm not sure I've had to provide my SSN yet, but maybe I did and just forgot.

My understanding is the same as Mike's next year it will be over $600, this year is still 200 or $20k.

I have always hit the marks...so i looked it is 2022.

State law likely differs from federal. I’m in Illinois and they wanted to know. I went ahead and added the total to my gross income with on my federal return as well for my 2020 taxes.

Not worried, just hate the paperwork. The tokens are just part of the True Dungeon hobby. Once Shipping and Fees are taken out )comes to roughly 20%), and the cost of buying other tokens, and adding the cost of dungeon runs (which includes the TD runs, travel, hotel rooms, etc.) I don't have a profit to show.