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Posted on 12/17/21 at 9:14 pm to jatilen
quote:what if someone sets it up like "for a friend" or "for donation" or something like that... Still counts?
This effects all electronic payments sent to you (PayPal, eBay, Facebook Marketplace, Venmo, etc).
Posted on 12/17/21 at 9:21 pm to cajunangelle
If people didn’t figure this out 10 years ago:
QUIT
USING
FACEBOOK
Your data (I.e., personally identifiable information) is a commodity that you’re giving them for free.
QUIT
USING
Your data (I.e., personally identifiable information) is a commodity that you’re giving them for free.
Posted on 12/17/21 at 9:23 pm to Tiger Prawn
quote:Or, big idea! Don't mark it sold. Just fricking delete it.
When you mark the item as sold on FB marketplace, it asks if you sold it on FB or elsewhere. Just answer that you sold it somewhere else
Posted on 12/18/21 at 1:16 am to cajunangelle
This is nothing new, the threshold was just lowered from $20,000 to $600. The marketplaces have a duty to track what is sold (FB/eBay/Mercari/etc) so they can send out tax documents.
If you sell locally and with cash, you’ll be fine. Just mark it as “no, haven’t sold”. If you sell via marketplace and ship, it’s all documented.
If you sell locally and with cash, you’ll be fine. Just mark it as “no, haven’t sold”. If you sell via marketplace and ship, it’s all documented.
This post was edited on 12/18/21 at 1:18 am
Posted on 12/18/21 at 3:21 am to jatilen
quote:
This effects all electronic payments sent to you (PayPal, eBay, Facebook Marketplace, Venmo, etc). If you get sent more than $600 in a calendar year, the tax man is coming for you.
This explains their backpedaling on forcing banks to report account transactions over $600.
They can just achieve the same goal through sales tax regulating electronic platforms.
Imagine your buddy bought your rounding of golf. He paid taxes on it. You want to reimburse him, you’re paying taxes on that. Again.
Wow - they really got a big win.
This post was edited on 12/18/21 at 3:22 am
Posted on 12/18/21 at 5:36 am to cajunangelle
Leave Facebook, Meta.
Problem solved.
Problem solved.
Posted on 12/18/21 at 7:26 am to cajunangelle
If you make over $600 on any online platform you'll have to pay taxes on it.
Posted on 3/2/22 at 5:54 pm to SouthEasternKaiju
This goes beyond FB.
This is so absurd. Can't even move money between friends and family depending upon the services now for whatever reason without having to account for it. That should not be the case. $600 over the course of a year is a joke. No reason to lower it from 20k.
I wish something could be done about this, because now I can't sell anything online unless I want to fill out tax forms.
This is so absurd. Can't even move money between friends and family depending upon the services now for whatever reason without having to account for it. That should not be the case. $600 over the course of a year is a joke. No reason to lower it from 20k.
I wish something could be done about this, because now I can't sell anything online unless I want to fill out tax forms.
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