FeeBay wants your bank. Reverb no PayPal

Rich K.

DFO Star
Gold Supporting Member
Joined
Aug 5, 2005
Messages
12,157
Reaction score
2,146
Location
Savannah, GA
E
I just got a 1099 from Paypal. Seems the state of Virginia considers payments from PayPal that exceed $600 a year as taxable income and have notified the IRS with a 1099.
So now anytime I sell anything and get paid with PayPal, it's considered taxable income. How much does that suck?? l
Even without the 1099, the income you receive from sales of your stuff has always been taxable.
 

supershifter2

DFO Star
Silver Supporting Member
Joined
Aug 11, 2009
Messages
6,817
Reaction score
1,474
Location
Lost Angeles , Ca.
about 20 years ago california passed a yard sale sales tax law. thats right you are allowed up to 4 yard sales a year and you have to charge sales tax or else. or else what ? you'll see ! JAIL !
 

idrum4fun

DFO Veteran
Joined
Aug 25, 2009
Messages
2,621
Reaction score
1,015
Location
southern California
I'm reviving this thread as I just received an email from eBay to update my account. Part of the "update" is to now include my SSN. I was uncomfortable with this, so decided to do some Googling first. Found some excellent information I felt was important enough to share with our members. Click the link and read all the posts from member Julie B. Seems that Julie really knows her stuff!

Here's the link... Click Here

So, is this where we're headed now? We can't sell more than $600/year without incurring a 1099-Misc form. Will this hit Reverb or other online "for sale" sites?

-Mark
 
Last edited:

bassanddrum84

Very well Known Member
Joined
Jun 16, 2009
Messages
837
Reaction score
596
Just use a prepaid debit card like chime I use that for all my online selling works great 24 hrs after thenitem
Is shipped it’s on my card easy as that. No bank account no saving account no numbers other then the chime card routing number. They can’t take money that’s not on there. I don’t trust any site with my actual bank account numbers period been scammed to many times. So prepaid is the way.
 

fatchoppers

DFO Veteran
Joined
Mar 11, 2012
Messages
2,627
Reaction score
170
Location
USA
Just use a prepaid debit card like chime I use that for all my online selling works great 24 hrs after thenitem
Is shipped it’s on my card easy as that. No bank account no saving account no numbers other then the chime card routing number. They can’t take money that’s not on there. I don’t trust any site with my actual bank account numbers period been scammed to many times. So prepaid is the way.
you must now upload a bank
 

bassanddrum84

Very well Known Member
Joined
Jun 16, 2009
Messages
837
Reaction score
596
you must now upload a bank
Ya chime is a prepaid debit card. Each card has its owning routing number just like a bank account. eBay is fine with it it’s all I use on eBay reverb offer up and many other buy sell sites. Haven’t been told to switch yet
 

jptrickster

DFO Star
Gold Supporting Member
Joined
Mar 8, 2006
Messages
10,326
Reaction score
4,116
Location
Fairfield County
Seems very odd and out of time now but only about 20 yrs ago Ebay was pretty much limited to money orders and credit cards, there was no Paypal no bank accts and no online postage labels. Sometimes you would have to wait weeks for snail mail to deliver the check. People would occasionally send cash. You had to go to the PO for every purchase to get the money order, imagine the horror!! Now they're all up in your kazoo and in your personal bizz. Progress?? Big Brother keeping a watchful eye so they can regulate you lol
 

fatchoppers

DFO Veteran
Joined
Mar 11, 2012
Messages
2,627
Reaction score
170
Location
USA
Seems very odd and out of time now but only about 20 yrs ago Ebay was pretty much limited to money orders and credit cards, there was no Paypal no bank accts and no online postage labels. Sometimes you would have to wait weeks for snail mail to deliver the check. People would occasionally send cash. You had to go to the PO for every purchase to get the money order, imagine the horror!! Now they're all up in your kazoo and in your personal bizz. Progress?? Big Brother keeping a watchful eye so they can regulate you lol
yep if it gos in your bank its income.
 

goodcat1337

Well-Known Member
Joined
Aug 13, 2015
Messages
342
Reaction score
64
Location
SC
I can sell to a worldwide market with no-buy for a 10% cut and except all manner of payments for a few points more - all without me having to set up merchant accounts for credit cards, and setup Apple Pay and Google Pay and whatever "Pay" comes next...

And now with this move, Ebay has just made it a bit cheaper and more streamlined...

Some people see ruination with this, all I see is opportunity...

(If the access to a bank account is that bothersome - why not just open another bank account for this purpose alone? Will cost a few bucks, but maybe worth it if more "firewall" is desired.)
This is what I’ve done. South State bank gives you free checking as long as you set up paperless statements. So I opened up an account with them and linked that account to my PayPal and cash app accts with the sole purpose for buying/selling gear and other stuff. That way none of it has to even touch my main bank account.
 


Top