eBay alternatives

Brownie

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Does anyone here sell online other than here or eBay? Which site? Is Bonanza any good?

eBay changed their sellers rules several months ago. They booted Paypal as the main payment method and now do everything themselves. In order to sell you must give them your bank account and Social Security number so they can do transfers and report income. There's no way in hell I'd trust them with that information. I imagine the hackers are licking their collective chops.

Anyway, who uses what?
 

Brownie

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Thanks. This is older film stuff, so need a wider audience than the forums. I don't use the book of face. I will look into hedgehog.
 

Darmok N Jalad

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Another fun change with eBay that is coming is that the US government just lowered the 1099-K report threshold from $20,000 to $600, starting in 2022. Apparently if you bring in more than $600, it’s not necessarily taxable, but it’s still one more complication when you’re just trying to offload things you don’t use. Apparently if you sell the item for less than what you originally paid, no problem, but how are you going to prove that? I guess put an initial purchase price on the listing or something?
 

Leolab

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Another fun change with eBay that is coming is that the US government just lowered the 1099-K report threshold from $20,000 to $600, starting in 2022. Apparently if you bring in more than $600, it’s not necessarily taxable, but it’s still one more complication when you’re just trying to offload things you don’t use. Apparently if you sell the item for less than what you originally paid, no problem, but how are you going to prove that? I guess put an initial purchase price on the listing or something?
you will have to file the income much like a small business.
there is a form to fill out, where you list gross revenue, and then subtract your costs (includes fees, shipping and original item cost for you).
If gross revenue is greater than your costs then you will owetaxes on your profit.

im not sure if they realize that virtually everyone sells 600$ of stuff in a year, so this will be commonplace in your 2022 tax returns.

it pays to save the receipt for everything you buy, you will need it if audited.
 

Darmok N Jalad

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you will have to file the income much like a small business.
there is a form to fill out, where you list gross revenue, and then subtract your costs (includes fees, shipping and original item cost for you).
If gross revenue is greater than your costs then you will owetaxes on your profit.

im not sure if they realize that virtually everyone sells 600$ of stuff in a year, so this will be commonplace in your 2022 tax returns.

it pays to save the receipt for everything you buy, you will need it if audited.
I guess one advantage to buying online is most receipts are logged, but I'm sure many treat eBay like a garage sale site (I know I do). I bet most of the time sellers aren't turning a profit on any item sold, which is probably why the tax threshold was so high. $600 is nothing these days, and it keeps becoming less and less as the cost of many goods seems to be on the rise.
 

Brownie

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When I played music professionally, a venue would take SS numbers and track their payments. Once a person reached $600 (pretty easy), they reported. You either had to count it as income and pay or list it as a hobby and get what you could, which was limited.
 

Leolab

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I guess one advantage to buying online is most receipts are logged, but I'm sure many treat eBay like a garage sale site (I know I do). I bet most of the time sellers aren't turning a profit on any item sold, which is probably why the tax threshold was so high. $600 is nothing these days, and it keeps becoming less and less as the cost of many goods seems to be on the rise.
agreed

just bear in mind that ebay keeps your purchase history (at least what you can see) for a limited period of time…so lets say 3 years ago you bought an em5ii for 1000$, and now you are looking to sell it for $300, then you certainly are not turning aprofit, but ebay does not keep your purchse history that far back so unless you have a printed receipt of the original purchase, how do you prove you paid $1000?, let alone remeber exactly how much you paid for it? I think a lot of people have not kept receipts for purchases made several years ago.
 

RichardC

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agreed

......just bear in mind that ebay keeps your purchase history (at least what you can see).......

Exactly this.

What ebay has, and what they allow you to access, aren't necessarily the same things.

A colleague of mine in the UK had a visit from the tax man a few years ago. He was fine because he had been trading and filing his accounts etc. However, the man from HMRC had an awful lot of information about his ebay transactions - going back some considerable time.
 

Darmok N Jalad

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When I played music professionally, a venue would take SS numbers and track their payments. Once a person reached $600 (pretty easy), they reported. You either had to count it as income and pay or list it as a hobby and get what you could, which was limited.
Did you cover “Taxman” by the Beatles, by chance?
 
Joined
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I’ve got a usps tracking # already!
(beginner’s luck?)

btw the item is a helluva lot cheaper than any eBay offer…

we’ll see !!!
 
Joined
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I’ve got a usps tracking # already!
(beginner’s luck?)

btw the item is a helluva lot cheaper than any eBay offer…

we’ll see !!!
Well! Mercari worked pretty good… they sort of make you install their app (groan) but the sellers seem very motivated…. They also don’t get paid until you rate the transaction WITHIN 3 DAYS!!! 2 transactions now and each were posted the same day.
MUCH BETTER value than the auction site…
 

Baenwort

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Thanks for the recommendations as I was surprised by the bank account requirement when I went to sell some old networkgear this weekend.
 

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