EBay ugh!


 
LMichaels

LMichaels

TVWBB 2-Star Olympian
So logged into my EBay account on the seller's dash board. Guess what? They have suspended all payouts to me until I send them my SS#! I'm done! So sick of having hands in my pockets other than my own! Taking down my last 2 items I have for sale and throwing them in the trash. Did not need or want them anyway
 
And like Bruce indicated..... it's not just FleaBay. 3rd party processors like Venmo are also going to have to collect data from users that heretofore was not required. Taxation, anti-money-laundering, anti-terrorism, etc.
 
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< I AM NOT A TAX ADVISOR >

Since most of "us" I'd say are in this as a hobby, I think the only thing we can deduct from a sale is "cost of goods sold"

If the gross proceeds less cost of goods sold net to almost zero, then clearly this is a hobby and any income will likely be noise on a tax return.

What I don't like is giving FleaBay my SSN, and I'm looking into using a TIN/EIN like similar to what I did when consulting. Less risky as it doesnt' expose your SSN.

Still considering this, but not really spending much time on it.
 
I was a pretty consistent user of Ebay a while back, but stopped when they started their policy of changing my listing to accept offers, even though I had set them up as fixed price buy now, no offers. I got tired of either having to go in and keep resetting my items, or pissing off potential buyers by turning down their offers that I didn't want in the first place.
 
C Lewis said:
I was a pretty consistent user of Ebay a while back, but stopped when they started their policy of changing my listing to accept offers, even though I had set them up as fixed price buy now, no offers. I got tired of either having to go in and keep resetting my items, or pissing off potential buyers by turning down their offers that I didn't want in the first place.
Click to expand...
^^ I have bought and sold many NOS antique claw hammers on eBay since early 2000’s but due to ridiculously high fees and the VERY aggravating changing my listings without my permission and having to go back through ever item to undo the change I will sell no more through them. Greedbay for my thoughts. 👎🏻
 
I never had a listing changed by EBay. I did notice though they tend to default rather aggressively when entering a listing at fixed price to allow offers. And it's easy to scroll by and miss it. Other than exorbitant fees my only gripe is them taking over the payouts from PayPal and then demanding my SS# to the point they notified me I will no longer be paid for sold items until provided. That was it. Canceled my last 2 listings, I had been paid for everything else. I'm done. If I can't deal face to face in cash I won't deal. I have 2 or 3 old mixers in the shop I had been considering doing full restores on. (full paint jobs and rebuilds) but not now. The audience for the machines here is useless. As in my area no one recognizes workmanship and does not value it. So odds are I will simply toss them or leave them ugly, rebuild them best I can and give them away.
I am TRYING to not step over the political thing here. But........................Oh well, Let's just say they've pretty much put Mixerdoc out of business
 
I sold a stereo amplifier on Audiogon yesterday, before I could begin to transfer funds in my PayPal account, I had to submit my social. A pound of flesh for the taxman!
 
I'm thinking' of putting my Marantz 2270 on Craigslist because of this new rule. The problem is I don't think I will get anywhere near what they wind up selling for on Ebay, even with the few burned out bulbs in the display they go for 4 figures. Maybe I should just fix it one more time and enjoy it again...:unsure:
 
@Mike Willis Just doing a quick look around, I see more than a few different LED retrofit kits for your receiver. If I was in your position, I'd be VERY tempted to go that route.
 
Yeah, by the time EBay gets done with their hand in your pocket, the IRS puts their hands deep into it. There is nothing left. So I bought something 20 years ago for say $200 and now I don't need it anymore. So post it up on FleaBay for $100 and it sells. According to the twisted ideas at the IRS, I now owe sales tax AGAIN and income tax because I MADE $100?! Not gonna say more because I know I will get banned for life
 
Back in the 90s the company I worked for had hundreds of brand new radio vacuum tubes just laying around in storage areas. They were obsolete and no longer used in any of our equipment.
My boss told me to chuck them, so I took them and for giggles I put some on EBay, man I hit the motherload. I made thousands of $$$ selling them all over the planet. Barb and I went to Hawaii four years in a row all paid for from the sale of the vacuum tubes.
When we moved to AZ I stopped selling on EBay but I still use PayPal for buying things and that paid off, I got stiffed on a purchase which turned out to be a scam, reported it to PayPal and they refunded my money. So, I still use them for purchases only.
 
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