Don’t forget to report your classified sales to the IRS!

[Trial153]

I will have my wife save a months worth of receipts. I should be good for like 5 years….

 

[fwafwow]

I will have my wife save a months worth of receipts. I should be good for like 5 years….

I love the thought, as it would reinforce my "need" for a few more things. I wish it were that simple (and I'm not throwing stones at my wife - I'm the far bigger spender). Based on the most recent link to the PayPal description by @Ty619, I could see some sellers insisting on using F&F, but I also expect some buyers may balk. But if you are the unique person who sells something for more than what you paid, spending lots elsewhere won't change the result.

 

[antelopedundee]

I love the thought, as it would reinforce my "need" for a few more things. I wish it were that simple (and I'm not throwing stones at my wife - I'm the far bigger spender). Based on the most recent link to the PayPal description by @Ty619, I could see some sellers insisting on using F&F, but I also expect some buyers may balk. But if you are the unique person who sells something for more than what you paid, spending lots elsewhere won't change the result.

What you use for payment will determine how or even if a deal gets done. A lot of people hate mailing checks or money orders. Selling a $50 box of bullets isn't life or death to me so if the sale is inconvenient then no sale.

 

[fwafwow]

What you use for payment will determine how or even if a deal gets done. A lot of people hate mailing checks or money orders. Selling a $50 box of bullets isn't life or death to me so if the sale is inconvenient then no sale.

Agreed. When I search for firearms on GB, I wish I could exclude sellers who are insisting on personal check or USPS money order as exclusive payment. I just move on.

 

[hawkman71]

If you sell something on Facebook Marketplace and mark the item as sold, FB asks if you sold in FB or elsewhere. If you select FB, it asks you to who? (and it selects the guy that you actually conversed with on FB about meeting up for the deal). If you select yet, it now asks for your SSN or ITIN. Of course, you could back out and just answer the first question differently by selecting "No, I sold it elsewhere."

EBAY has dropped PAYPAL and now wants your bank account number to withdraw fees and deposit payments directly. There's the whole spiel about a 1099K for over $600 in annual sales...

Great. Now even the absolute s*%^ that I decide to sell is taxed.

The IRS will be patrolling cul-de-sacs on Saturday morning now...

 

[bowhuntr09]

The IRS will be patrolling cul-de-sacs on Saturday morning now...

That must be what the 87000 new IRS agents are for.

 

[Zappaman]

Agreed. When I search for firearms on GB, I wish I could exclude sellers who are insisting on personal check or USPS money order as exclusive payment. I just move on.

If they have a good rating, I'll be taking checks and waiting for them to clear. If you're in such a hurry, pay your taxes (legal?)- I'll add it to the price. Every dollar bill says "debts, public or PRIVATE" and so I'm fine using the good old banking system that still respects privacy. Wait for a few weeks... or learn to do without for a VERY short while.