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Started By
Message
1
Posted on 11/26/22 at 11:00 am to Proximo
I'm curious how Antiquetiger is going to react to this.
Posted on 11/26/22 at 11:00 am to Oates Mustache
All that for $8.4B? Coulda just left that rule the same and not sent the last bucket of cash to Ukraine
Posted on 11/26/22 at 11:01 am to IT_Dawg
quote:
All that for $8.4B? Coulda just left that rule the same and not sent the last bucket of cash to Ukraine
No shite, huh. They keep fricking us all over but send unaccounted for billions to Ukraine every week.
Posted on 11/26/22 at 11:09 am to Oates Mustache
It's amazing to me that people vote for this shite.
Posted on 11/26/22 at 11:12 am to Turnblad85
quote:
I got a notice from ebay that said before they can deposit anymore money in my checking account from the junk I've sold I had to give them my social number. It was because I was over the $600 limit.
So I guess now I will pay taxes on stuff that I've already paid taxes on and now resold?
You are selling it at a loss. Hopefully someone pushes the issues that these should be deductions for many people, not income.
Posted on 11/26/22 at 11:13 am to go ta hell ole miss
You can make that argument, but you have to have the documentation.
Posted on 11/26/22 at 11:14 am to fallguy_1978
The resident Leftists of the board certainly have no problem with this.
Posted on 11/26/22 at 11:15 am to Turnblad85
quote:
So I guess now I will pay taxes on stuff that I've already paid taxes on and now resold?
IF you can show your basis is higher than the amount realized from the sale you do not owe any taxes.
The initial limit of 20K or (I think) 200 transactions was IMO reasonable because there were a lot of people using eBay as a business but didn't report the income. Dropping it to $600 is just a joke and will cost people time and money well above any "profit" just to deal with their tax prep.
Posted on 11/26/22 at 11:16 am to go ta hell ole miss
quote:
You are selling it at a loss. Hopefully someone pushes the issues that these should be deductions for many people, not income.
Right, but you have to take time to document and prove it. More bullshite hoops to jump through.
Posted on 11/26/22 at 11:16 am to fallguy_1978
quote:
It's amazing to me that people vote for this shite.
Submitted without comment
Posted on 11/26/22 at 11:17 am to Obtuse1
So do people just go all cash now on Facebook marketplace and other local sales, just to avoid this?
Seems like Venmo, PayPal, etc would hate this new shite.
Seems like Venmo, PayPal, etc would hate this new shite.
Posted on 11/26/22 at 11:17 am to Obtuse1
quote:
The initial limit of 20K or (I think) 200 transactions was IMO reasonable because there were a lot of people using eBay as a business but didn't report the income. Dropping it to $600 is just a joke and will cost people time and money well above any "profit" just to deal with their tax prep.
100%
The pandemic and Cashapp changed everything and the government flipped out at the lax oversight by the processors.
Posted on 11/26/22 at 11:20 am to Oates Mustache
Use cash, use cash… never vote Democrat.
Posted on 11/26/22 at 11:28 am to Oates Mustache
So lots of 599$ payments to not trigger...
Posted on 11/26/22 at 11:30 am to jivy26
$600 for all payments in a year, baw
Posted on 11/26/22 at 11:34 am to El Segundo Guy
quote:
Everything that comes from the Dems is a fricking joke.
FIFY
Posted on 11/26/22 at 11:34 am to Oates Mustache
quote:
I'm curious how Antiquetiger is going to react to this.
I am not sure when he started on eBay but he has probably been filing a Schedule C since he started or at least the last 12 or so years since eBay started reporting and issuing 1099Ks.
Posted on 11/26/22 at 11:37 am to Oates Mustache
My handyman has already started requesting to be paid in cash. $500 installments.
Posted on 11/26/22 at 11:42 am to SlowFlowPro
quote:
$600 for all payments in a year, baw
Yup. I got a notice from Reverb.com about this. fricking ridiculous.
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