Will This End Ebay

[mmuehlba]

well ebay /Pay pal now will sent transactions to the IRS . well will this change things ?? Mike

[spara50]

My understanding is you have to sell $20k or more and have 200 transactions or more. Not one or the other, both criteria must be met to have them issue a 1099.

Craig

[greg11]

There is some very high end stuff bought and sold on ebay, watches, coins, cars. Much of the money is wired, I dont know how that is reported but im sure the IRS is targeting those transactions, not marbles

[BobBlock]

I'm not sure if Ebay is sending out the 1099s. I know Paypal is because you had to fill something out online about two weeks ago about it. Paypal will send out 1099s for those accounts that have $20,000 AND 200 transactions. I don't see that it is an issue for casual sellers. And larger sellers should be reporting something on Capital Gains or Schedule C already, or eventually the IRS will catch up with you through your banking activity.

My bigger issue with Ebay is that they are now charging their Final Value Fee on shipping charges. And they actually had the balls to spin this as a fee reduction!!! Back in the good old days, it was costing you about 5 or 6% to sell on Ebay. Between the Paypal fees and all the little Ebay listing fees, its in the neighborhood of 15-20%, unless you start everything at 99cents and offer free shipping, and then you're still paying a good 10%.

I get it that Ebay is trying to turn themselves into another Amazon shopping experience, but you're paying more to Ebay now than you would pay to an auctioneer, and you have to do all the work.

[bigjohn691500]

all the auction houses in my area charge 25% to sell and it does not include world wide coverage,,j