Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

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KnightDamien
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Sun Apr 11, 2021 1:54 am

tigermask44 wrote: The billionaires on this planet could easily make it where everyone lived comfortably, one could actually probably do it. The reason they don’t is because if everyone was comfortable nobody would actually do anything. There would be nobody working at Walmart or McDonald’s or make the cool things you want to buy. Doesn’t have anything to do with the topic I guess but it was on my mind.
It's a dangerous conservative talking point - and completely false - that in a society where everyone's needs are met no one would do anything. Let's be careful about perpetuating that broken and ludicrous idea. Rather, if people were taken care of, we could eliminate superfluous 'busy work' jobs that literally only exist so that people can justify their existence to corporations and prove that they're 'worthy' of being alive.

Fly4v wrote: The government getting more money is always bad because it is always squandered.
That means the political structure is bad. Not that taxes are bad. More people need to flip the conversation and start being mad about where their tax money goes rather than paying taxes at all. Those are two very different conversations.



In any event... I don't care at all if eBay sellers are going to get taxed, as a general rule. There's plenty of people that make way too much money on eBay to not be paying taxes on it. But a 600 dollar threshold is [email protected]#$ stuuuuuuupid, abusive, and obviously intended to hurt regular people and put even more of the tax burden on them.
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Fly4v
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Sun Apr 11, 2021 2:38 am

JTMarsh wrote:
Sun Apr 11, 2021 1:35 am
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KnightDamien wrote:
Sun Apr 11, 2021 1:54 am
Fly4v wrote: The government getting more money is always bad because it is always squandered.
That means the political structure is bad. Not that taxes are bad. More people need to flip the conversation and start being mad about where their tax money goes rather than paying taxes at all. Those are two very different conversations.
It is the same conversation.

Politicians derive their power thru legislation ie the power of tax and spend. That is why taxes haven't gone away in a century.

Worse yet the legislature, where all spending is to originate and also laws are to be drafted... has allowed agency's to write their own rules even worsening the situation.

The different conversion is how government has used situations to give themselves more power and deprive people of their rights. It has become progressively worse problem over the years.
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Sun Apr 11, 2021 3:26 am

I hope someone gets some help from what I posted.

This thread sucks.
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christianpyro
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Sun Apr 11, 2021 3:55 am

captaincracker wrote:
Sun Apr 11, 2021 3:26 am
I hope someone gets some help from what I posted.

This thread sucks.
I for one appreciated your post about your experience. Those are the sorts of posts and discussions we need. :D
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Sun Apr 11, 2021 6:42 am

tigermask44 wrote:
Sun Apr 11, 2021 1:19 am
The billionaires on this planet could easily make it where everyone lived comfortably, one could actually probably do it. The reason they don’t is because if everyone was comfortable nobody would actually do anything. There would be nobody working at Walmart or McDonald’s or make the cool things you want to buy. Doesn’t have anything to do with the topic I guess but it was on my mind.

I need government assistance because Walmart doesn't pay me a living wage. Walmart is forced to pay me fairly and I... no longer go to work? That idea doesn't even hold up under a single hypothetical. Literally the smallest bit of scrutiny makes you realize it's nonsense.

Fly4v wrote:
Sat Apr 10, 2021 11:59 pm
You are the best person to take care of yourself. That is what this great nation was founded on.

Washington famously defeated the British all by his lonesome. I [email protected]#$ hate this rugged individualism bullshit. Only in America.
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Sun Apr 11, 2021 8:29 am

domu wrote:
Sat Apr 10, 2021 11:40 pm
Ultramane wrote:
Sat Apr 10, 2021 8:50 pm
anyway if you're gonna remember things when voting, don't go after for the people who voted for a bill that happened to include this, but the people who allowed this kind of wealth gap and tax loopholes in the first place. or start building guillotines, which is probably easier.
I 100% agree with what you're saying at the beginning, but 100% disagree with even joking about bringing violence into the equation. This past year has shown there are too many who take that sort of thing way too literally.
i wasn't joking.

the destruction of the middle class and the ever increasing wealth gap, especially over the course of the pandemic? now that's violence. people dying in poverty while someone makes more in interest than most Americans will make in a year? way more violent than my personal ideas about what should be done with billionaires.
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Ultramane
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Sun Apr 11, 2021 8:32 am

tigermask44 wrote:
Sun Apr 11, 2021 1:19 am
The billionaires on this planet could easily make it where everyone lived comfortably, one could actually probably do it. The reason they don’t is because if everyone was comfortable nobody would actually do anything. There would be nobody working at Walmart or McDonald’s or make the cool things you want to buy. Doesn’t have anything to do with the topic I guess but it was on my mind.
you started off correct but ended with a myth perpetuated by the ruling class. people want to work. they also want to be fairly compensated for their labor. they mostly aren't.
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christianpyro
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Sun Apr 11, 2021 8:37 am

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Ultramane
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Sun Apr 11, 2021 8:38 am

whoever said up there that the issue isn't taxes, but how they're spent is 100% right. look no further than the pentagon budget every year and it becomes quickly obvious. there's pretty simple solutions to most of these problems, but individualism and american exceptionalism will always get in the way of the best interests of the country and the people in it. there's really no excuse for most of the problems we face today other than most people are, honestly, just dumb and selfish.
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Sun Apr 11, 2021 8:39 am

christianpyro wrote:
Sun Apr 11, 2021 8:37 am
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we're talking about squeezing more taxes out of relatively low income toy collectors. all of this is on topic.
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Fly4v
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Mon Apr 12, 2021 2:01 am

christianpyro wrote:
Sun Apr 11, 2021 8:37 am
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No really don't use force. The use of force will de-legitimize any valid argument.
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Thu Apr 15, 2021 12:01 am

captaincracker wrote:
Sun Apr 11, 2021 3:26 am
I hope someone gets some help from what I posted.

This thread sucks.
I appreciated your post.

So....rather than debate what we think the problem is, whether we like or dislike this new rule put in place. Let's stick with the reality of the situation.

Everyone who makes $600 and up will get a 1099 taking effect in January 2022. That is a fact we can all agree on. Doesn't matter how we got here, this is where we are at.

So....what do we do about it? And once again, let's leave any sort of voting aspect out of it. Let's just assume this isn't going anywhere and needs to be the way of life moving forward.

First thing that seems obvious to me is.....SELL....and SELL fast! All that stuff you've been putting off unloading/cleaning out be sure it get it out this year. That will take care of most of your problems moving forward I would think.

Second...for any future sales it sounds like casual hobbyists wont have to worry too much about these taxes? We can just estimate the cost of each items initial value and those can be deducted from the final sales value? Is that the short of it?
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Re: Sellers will be sent a 1099 (taxable income) if they sell $600 + starting 2022

Thu Apr 15, 2021 1:13 am

maverick10126 wrote:
Thu Apr 15, 2021 12:01 am


Second...for any future sales it sounds like casual hobbyists wont have to worry too much about these taxes? We can just estimate the cost of each items initial value and those can be deducted from the final sales value? Is that the short of it?

Best case scenario at this point, yes. Not all tax advisers agree though. As some pointed out, some said to estimate the total they paid, another was advised to report their purchase price as a certain percentage (30% of the sale). The truth is, as long as your not audited you can do what you feel is best. If you are audited only receipts are a safe bet, and its up to the auditors discretion. Follow your tax advisors advise (and get a good one).

You would also deduct fees, packing materials and shipping. For those last four you will want proof. Ebay can give you reports on shipping spent through them, fees collected, and the taxes collected. You will want to keep receipts for packing materials and any shipping/costs paid from outside of Ebay.

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