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View Full Version : Careful in 2011 on Ebay


ybnegood
12-11-2010, 06:18 PM
Over $20,000 in sales or over 200 transactions on Ebay thru Paypal will get your sales reported to the IRS
automatically. You will get a 1099K form at the end of the year to file with your taxes as income.
You can deduct ebay and paypal fees, shipping costs, etc. but will have to pay income taxes on your
net.. Obama promised change - you got it.


khakigirl
12-14-2010, 06:33 AM
After doing a bit of research, I found this thread on eBay: http://forums.ebay.com/db2/topic/Paypal/Clarification-On-The/520234205&start=0

It looks like you have to meet BOTH criteria: 200 transactions AND $20,000.

yasser
01-02-2011, 11:53 AM
After doing a bit of research, I found this thread on eBay: Clarification on the 2011 Paypal Tax Reporting Law *Paypal Response Needed* in Community Help Boards in Community (http://forums.ebay.com/db2/topic/Paypal/Clarification-On-The/520234205&start=0)

It looks like you have to meet BOTH criteria: 200 transactions AND $20,000.

you have to meet both for sure


dreed
01-07-2011, 08:02 PM
Looks to me like Big Value Depot is going to be the best option yet. Ebay for one has become too expensive to seel through and I understand even Craigslist is going ot start charging.

khakigirl
01-08-2011, 08:08 AM
Looks to me like Big Value Depot is going to be the best option yet. Ebay for one has become too expensive to seel through and I understand even Craigslist is going ot start charging.

I'd rather have the HUGE audience eBay has and pay some fees that have lower fees and no audience.

singlemom58
01-13-2011, 01:34 PM
That is so truth!
Have any one try ebid.net
I wounder if it is any good.

SOUTHERNGIRL
01-15-2011, 02:26 PM
Is anyone else using Ecrater. It is not an auction, it's a set rate platform. I started about 2 weeks ago. I have gotten a lot of "hits" but no sales. I have a resale business selling gently used clothes, shoes, books and other stuff I need to get rid of. I looked into Ebay, but all of the fee's are scaring me away. Maybe if I had something with a little more value to sell, I would try it, but I am sticking to Ecrater for now.

Lainii87
02-18-2011, 07:30 AM
It's been a month since your post and I was just wondering how it's going with ecrater? Have you sold anything?




Is anyone else using Ecrater. It is not an auction, it's a set rate platform. I started about 2 weeks ago. I have gotten a lot of "hits" but no sales. I have a resale business selling gently used clothes, shoes, books and other stuff I need to get rid of. I looked into Ebay, but all of the fee's are scaring me away. Maybe if I had something with a little more value to sell, I would try it, but I am sticking to Ecrater for now.

MomAndDadStayHomeFullTime
03-26-2011, 01:16 PM
Heck ya! Of course! We started selling on ebay when it was just a few pages long! You could see the entire site in a MINUTE. Of course we claim the income! That was we get TONS of write offs and huge refund checks!! Why wouldnt you want to claim the income?!!! Claiming=deductions=REFUND!!

dreed
04-03-2011, 08:09 AM
I'd rather have the HUGE audience eBay has and pay some fees that have lower fees and no audience.

I do understand and at this point agree. But with what is going on at Big Value Depot right now, I expect that to change in 2011. They are hooking up with some pretty well known sites and I expect some very accelerated growth in 2011. The introduction of "Click It and List It " apps for iphones is but the tip of the iceberg of where this company is going. It will be a fun company to follow this year.

lorah
04-03-2011, 09:31 AM
I do understand and at this point agree. But with what is going on at Big Value Depot right now, I expect that to change in 2011. They are hooking up with some pretty well known sites and I expect some very accelerated growth in 2011. The introduction of "Click It and List It " apps for iphones is but the tip of the iceberg of where this company is going. It will be a fun company to follow this year.

What is Big Value Depot?

dreed
04-03-2011, 11:10 AM
What is Big Value Depot?

Big Value Depot is a new but very promising auction site that I think will be a very good alternative to Ebay. The growth in the past year has been very substantial. They are currently offering webstores with 50 free listings for $1. to start and $14.95 and month there after. You will never see Ebay do that. I do have a page in the site in my siggy if you want to check them out, or if you want to learn more about
Big Value simply go to there site by typing their name in the address bar or a search engine like Google.

Bella Pearl
05-18-2012, 03:13 PM
How are people able to sell on ebay and similar sites, like etsy, without a business license and proper tax setups? I haven't even put my website up yet, and I'm required to have a county business license, city business license, register with the state as a reseller, and get an EIN number from IRS.

It seems like lots of people are selling through online stores without having to go through that, so I'm just wondering how. Is it the whole hobby vs business thing?

Numericmama
07-10-2012, 11:23 PM
Weird - why wouldn't you expect to pay taxes on $20,000 of revenue? As a business person, you should be keeping track of your expenses - gas, purchasing, internet, office supplies, maybe even a home office. That is just good business.

Paying taxes on earned income has nothing to do with who is president, that has to do with income. You should have been tracking and paying for that in the first place.

$20,000 in sales seems very high as a trigger for the IRS considering it is $600 for services.

Really, you probably should look into your city and state tax regulations. It has taken a while for cities and states to catch up with Internet sales, but since all of the states are short of tax and businesses have become more internet based, they have been catching on. As well they should. Otherwise internet businesses have a tax advantage over brick and mortar.

Numericmama
07-10-2012, 11:37 PM
I think that Business licenses are issued by the state, not the Federal Government. Since Etsy is interstate, it would be regulated by the Feds and not the States. Currently anyway. Cities and states are behind, but they are catching up with technologies. There are still a lot of questions about who would collect what tax for interstate transactions though.

That doesn't mean that a person selling on Etsy isn't running an official business though. If I were running a business that had a revenue of $500 or $600 I would report it along with the associated expenses. If it were under that, then I would question if doing the taxes was worth my time or not. Such a small amount would probably fly under the radar. But then again, for such a small amount, is it worth the time of running the business, or should I be looking for another option?

StateLineBag
10-02-2012, 11:16 AM
You don't need to be an official "business" to sell on eBay or Etsy. Amazon is different however.



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