Beware of a scammer

[fwafwow]

The other issue for Goods and Services going forward is the tax implications once PayPal starts sending out 1099-k for anything over $600. F&F is immune from that but G&S has the potential to double screw the seller as not only can the buyer get the money back by lying but the seller has to dig up the receipts to prove if they made/lost money or they get taxed on the whole total.

Last year I sold a few thousand dollars worth of gear I had collected for over 10 years to help pay for my honeymoon. A lot of the stuff I had bought I no longer had the receipts for and couldn’t prove what I paid so I’d have owed a couple thousand more in taxes with G&S even though I lost money overall.

Receipts are helpful but not absolutely necessary. There are other threads and I believe that point is referenced in those and maybe in the IRS FAQ.

 

[Billy Goat]

The only problem with this is I'm a FNG. I'm a good guy who has only been here a couple months. I've done probably 10 deals in that time and only one person has left me feedback. How do I build feedback if nobody leaves it?

Sent from my SM-G965U using Tapatalk

I'm told memes make you seem more credible.

 

[jfk69]

The problem with PayPal Goods and services as a seller is that there have been scams where the buyer claims they never got the item and PayPal refunds the money out of the sellers account without proof and the seller gets screwed out of the item.

You could avoid this by shipping USPS with signature. Pretty hard for someone to tell PayPal they didn’t get the product when they signed for it.

 

[fwafwow]

You could avoid this by shipping USPS with signature. Pretty hard for someone to tell PayPal they didn’t get the product when they signed for it.

I started to explain how this can be circumvented by scammers, but even though the scammers already know this, there is no need to educate more of them.

For more expensive items I will do G&S, but if there is any red flag or bad gut feeling, I just pass over that buyer.

 

[jfk69]

Guess I’m too honest and not a scamming POS. I don’t see how, but I believe you. If only people spent as much time working at being productive and honest. Kind of like computer hackers.

 

[TSAMP]

Does

He was banned on feb 10.

His wife have an account? Lookin to help.

 

[UncleBone]

I'm told memes make you seem more credible.

Its true.

 

[Louro]

You have to be persistent and ask. If I’m the buyer, I ask for feedback as soon as I’ve paid. If I’m the seller, I ask for feedback as soon as they have received the item. You may have to buy smaller items with either F&F or with sellers who don’t care about G&S (which is harder now due to tax reporting changes).

What he said, I'm in the same predicament. I leave feedback as soon I received the item and ask the seller to please leave feedback.

 

[CorbLand]

The other issue for Goods and Services going forward is the tax implications once PayPal starts sending out 1099-k for anything over $600. F&F is immune from that but G&S has the potential to double screw the seller as not only can the buyer get the money back by lying but the seller has to dig up the receipts to prove if they made/lost money or they get taxed on the whole total.

Last year I sold a few thousand dollars worth of gear I had collected for over 10 years to help pay for my honeymoon. A lot of the stuff I had bought I no longer had the receipts for and couldn’t prove what I paid so I’d have owed a couple thousand more in taxes with G&S even though I lost money overall.

Yep and this is why I try to use FF only but only you can protect yourself. If you, as the buyer, arent willing to risk using FF, then dont use it.

 

[CorbLand]

He was banned on feb 10.

This is why they instantly try to take the conversation off the forum. If the conversation stayed in PMs, OP would have been safe because he got banned before money was sent.

 

[Kelk]

What he said, I'm in the same predicament. I leave feedback as soon I received the item and ask the seller to please leave feedback.

I leave feedback whenever I’m asked as most of the time I do not think about it. I feel like a lot of guys aren’t paying attention to the feedback when purchasing from someone. They don’t do their due diligence and investigate the guy they are dealing with. They want the good deal so bad they forget to look. If theres no feedback or not much of any you could ask or give references from past dealings. I would gladly vouche for someone if asked.


Sent from my iPhone using Tapatalk

 

[I Am Gunz]

Does

His wife have an account? Lookin to help.

I laughed way too hard at this comment. Needed that today, thank you kind sir.

 

[Weldor]

Paypal is not your friend. Most of the stuff for sale on here Paypal won't reimburse you anyway. Not all but alot of it. I used Paypal for years on Ebay . I think thats their genre. JMHO.

 

[Bigborealaska]

The only problem with this is I'm a FNG. I'm a good guy who has only been here a couple months. I've done probably 10 deals in that time and only one person has left me feedback. How do I build feedback if nobody leaves it?

Sent from my SM-G965U using Tapatalk

When you do sell or buy something ask the individual to leave you feedback and tell them you are leaving feedback for them as well. I find that works the best.

 

[robcollins]

The problem with PayPal Goods and services as a seller is that there have been scams where the buyer claims they never got the item and PayPal refunds the money out of the sellers account without proof and the seller gets screwed out of the item.

Not true. Shipping with tracking eliminates this. Sharing the tracking number through PayPal is the way.

Sent from my SM-G781V using Tapatalk

 

[robcollins]

The only problem with this is I'm a FNG. I'm a good guy who has only been here a couple months. I've done probably 10 deals in that time and only one person has left me feedback. How do I build feedback if nobody leaves it?

Sent from my SM-G965U using Tapatalk

$10?

(PayPal F&F only....)

Sent from my SM-G781V using Tapatalk

 

[Team4LongGun]

Another reminder to not use F&F unless they are FRIENDS OR FAMILY.

 

[robcollins]

The other issue for Goods and Services going forward is the tax implications once PayPal starts sending out 1099-k for anything over $600. F&F is immune from that but G&S has the potential to double screw the seller as not only can the buyer get the money back by lying but the seller has to dig up the receipts to prove if they made/lost money or they get taxed on the whole total.

Last year I sold a few thousand dollars worth of gear I had collected for over 10 years to help pay for my honeymoon. A lot of the stuff I had bought I no longer had the receipts for and couldn’t prove what I paid so I’d have owed a couple thousand more in taxes with G&S even though I lost money overall.

I'll believe that when I see it. That's the argument that scammers use.

If it were to happen, (which I doubt it ever will) your original cost basis (which hasn't been mentioned) should offset against your sale price. Selling for less than purchase price (theoretically) would create deductions. There's currently no related FASB proposals related to this....

Sent from my SM-G781V using Tapatalk

 

[Bigborealaska]

$10?

(PayPal F&F only....)

Sent from my SM-G781V using Tapatalk

Says 10 deals as in sold 10 items. Not sure what the $10 means.

 

[CMP70306]

I'll believe that when I see it. That's the argument that scammers use.

If it were to happen, (which I doubt it ever will) your original cost basis (which hasn't been mentioned) should offset against your sale price. Selling for less than purchase price (theoretically) would create deductions. There's currently no related FASB proposals related to this....

Sent from my SM-G781V using Tapatalk

https://www.paypal.com/us/cshelp/ar...reporting-requirements-help543?locale.x=en_US

Here is the info right from PayPal, all payments via goods and services over $600 will receive a 1099-k which is sent to the IRS. Started January 1, 2024 so it is already in effect. And for anything gun related you are SOL regardless of either option as PayPal would probably lock and delete your account over it.

As for the IRS the issue would be proving your cost basis, some stuff I can find receipts for but other stuff I can’t. At that point I have no idea how you go about rectifying that discrepancy with them.