TOPIC:

Hi Guys,
You may have noticed that I'm trying to sell a bike for a friend of mine, it's in the For Sale Forum.
I've recently heard that E-bay is reporting income to the govmn't and requiring a bunch of new information about sellers to do so.
How are you folks dealing with this stuff? Is it difficult to get set up to offer stuff for sale?
TIA
Bil

There isn't much to do.  They will want your bank account number, though.  At the end of the year, it's my understanding that you will get a 1099 for the proceeds.  That part really sucks, because we are supposed to declare the money as "income" which means taxes (25%?)

 

Nessism wrote:

There isn't much to do.  They will want your bank account number, though.  At the end of the year, it's my understanding that you will get a 1099 for the proceeds.  That part really sucks, because we are supposed to declare the money as "income" which means taxes (25%?)


 

I'm not concerned about the income as long as I can show expenses to offset it.
Bill

I had basically just dipped my toes into the waters of E-Bay selling when they changed the rules. They wanted a checking acct. #, which is no huge deal, just set up a separate account for E-Bay. The part I really didn't like was providing your S.S. number!  I have heard that they backed down to only requiring the last four digits, still distasteful to me, but I'm considering giving it another go.

Mike

You should try to sell it on bring a trailer.com, they only charge $99 to list and the winner of the auction pays BaT the fees.
I sold my 1953 Dodge Powerwagon there a couple years ago I was asking 10K for it locally with no luck it brought almost 16K on Bat.

I quit selling on ebay a few years ago, I sold my 65 Chevy van there and the fees ebay and paypal charged me were insane.
BaT has a huge audience of people with deep pockets.

Moose1800 wrote:

You should try to sell it on bring a trailer.com, they only charge $99 to list and the winner of the auction pays BaT the fees.
I sold my 1953 Dodge Powerwagon there a couple years ago I was asking 10K for it locally with no luck it brought almost 16K on Bat.

I quit selling on ebay a few years ago, I sold my 65 Chevy van there and the fees ebay and paypal charged me were insane.
BaT has a huge audience of people with deep pockets.
 

Jay Leno is always endorsing BaT on his YouTube videos. Talk about deep pockets!