(Topic ID: 286280)

Has eBay finally done itself in? SS# & 1099 sellers

By Mikala

1 year ago


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  • 148 posts
  • 71 Pinsiders participating
  • Latest reply 10 months ago by BoJo
  • Topic is favorited by 5 Pinsiders

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    There are 148 posts in this topic. You are on page 1 of 3.
    12
    #1 1 year ago

    The final deadline for all sellers to sign up for eBay’s new payment system was yesterday. If you didn’t, all of your listings were pulled down. The new payment system requires the seller to link eBay directly to your bank account, supply eBay with your Social Security # and the generous gift of a 1099 at the end of the year. I can understand this applying to the mass sellers who actually use eBay as a retail store, but to the causal seller this is outright BS. In addition, this is for sure going to start limiting what is offered for sale on eBay. A casual seller is not going to want to give eBay their SS# just so they can sell a set of plastics or a shooter rod. Opinions?

    32
    #2 1 year ago

    wow didn't know this. looks I won't be selling on there anymore. Haven't in a few years but skip that. If I already paid taxes on a product and decide to sell it, I shouldn't have to get taxed again.

    17
    #3 1 year ago

    This should only be for businesses selling on Ebay. So stupid, oh well, one less "big tech" company to deal with.

    #4 1 year ago

    Sure doesnt sound like they did this voluntarily. There are people making their living on ebay and probably not claiming it.

    #5 1 year ago
    Quoted from HarryReimer:

    Sure doesnt sound like they did this voluntarily. There are people making their living on ebay and probably not claiming it.

    people do. I knew a guy that would sell collectible items. he would buy them at a regular retail store then sell them for more on ebay. so if you are paying taxes on that product, why pay the government again? I understand it is income but kinda silly that they are going to double dip you. I could see if you are selling x amount of dollars worth doing this but if you sell maybe under 10k for the year, why get hit again. on the other hand, you have those that go to garage sales, thrift stores, estate sales, and then just resell those items. you aren't paying taxes on those items.

    #6 1 year ago
    Quoted from Mikala:

    If you didn’t, all of your listings were pulled down.

    I haven't made the switch yet and just checked and all my auctions are still active. Do you have a business account?

    pasted_image (resized).png

    According to the website it didn't say anything about a 1099 and with regards to SS# they claim they need it for the following:

    pasted_image (resized).png

    However I am not sure if I really trust them and my days of selling might be long gone.

    11
    #7 1 year ago
    Quoted from Bax1:

    people do. I knew a guy that would sell collectible items. he would buy them at a regular retail store then sell them for more on ebay. so if you are paying taxes on that product, why pay the government again? I understand it is income but kinda silly that they are going to double dip you. I could see if you are selling x amount of dollars worth doing this but if you sell maybe under 10k for the year, why get hit again. on the other hand, you have those that go to garage sales, thrift stores, estate sales, and then just resell those items. you aren't paying taxes on those items.

    This isn't getting double dipped on taxes though. It's taxes on a purchase and then taxes on a sale. If someone is making a business out of doing that, they should be paying taxes for both. This is how taxes work.

    #8 1 year ago

    Good thing Bryan Kelly and I are done selling cactus canyon plastic rocks for $600 and $100 yellow drop targets on eBay.

    #9 1 year ago
    Quoted from BoJo:

    I haven't made the switch yet and just checked and all my auctions are still active. Do you have a business account?
    [quoted image]
    According to the website it didn't say anything about a 1099 and with regards to SS# they claim they need it for the following:
    [quoted image]
    However I am not sure if I really trust them and my days of selling might be long gone. 486 sales over 20 years for $87,196.40 so it was a nice run.

    I do have a private account. eBay claims they will not 1099 you unless you surpass their 200 sales/$20,000 mark, but the many issues that arise here are you now have a bank account that literally keeps record of all income from eBay, since this is how you will be paid going forward. If audited, the IRS will not care that you did not reach a $20k threshold, they will be only interested in the additional income that they see in that bank account. Furthermore, I believe this really will effect how much product will be offered on eBay going forward. We have enough problems with identity theft in this world today. Do I really need my SS# and bank information out there on another server that may someday be compromised?

    11
    #10 1 year ago

    Ebay sucks. I stopped selling on there a long time ago, I went to facebook marketplace, much more cost effective.

    #11 1 year ago

    Yeah - I have been an eBay seller for a long, long time...no more.

    #12 1 year ago
    Quoted from Mikala:

    I do have a private account. eBay claims they will not 1099 you unless you surpass their 200 sales/$20,000 mark, but the many issues that arise here are you now have a bank account that literally keeps record of all income from eBay, since this is how you will be paid going forward. If audited, the IRS will not care that you did not reach a $20k threshold, they will be only interested in the additional income that they see in that bank account. Furthermore, I believe this really will effect how much product will be offered on eBay going forward. We have enough problems with identity theft in this world today. Do I really need my SS# and bank information out there on another server that may someday be compromised?

    I agree with you and I'm not comfortable giving them my SS# either. I have a separate bank account just for paypal and online stuff so I am not too concerned about a compromise since I typically keep the account at zero. I always wished there would be a legitimate rival to eBay over the years as they kept increasing fees but nobody has ever pulled it off.

    #13 1 year ago

    I'm not a fan of the changes, I had to set up a whole new bank account and jump through a bunch of hoops getting everything set up. It was much more convenient running everything through paypal. I think they upped the seller fees now too so I don't think you're really saving any money over the old seller fees+paypal fees but don't quote me on that just yet.

    #14 1 year ago

    Time to close down my account!!

    #15 1 year ago

    My wife and I have sold things on eBay for many, many years. I have pulled back to basically nothing, but she still sells on it regularly. She isn't happy with this new set up, and we have been discussing this very thing.

    As far as other options, however, there aren't many. Facebook or craigslist are the obvious choices, but come with their own pitfalls. Letgo and 5 mile are largely a joke. Print ad is dead, and an online store would actually be more troublesome than just signing the eBay agreement.

    Maybe we just need to set up a barter system out in the desert like Tina Turner in Mad Max.

    #16 1 year ago

    Facebook Marketplace is eating eBay for lunch, especially among
    Women. The baby clothes/items, furniture, are hot right now. When they start this mess there (and they will) it will effectively kill another outlet. I do not have a fake book account but borrow someones when looking for something.
    As far as eBay the young don't use it, some have never heard of it. I have been a long time seller but quit due to fees, these SS# requirements will never fly.
    eBay used to be so good, they did everything they could to kill it.

    12
    #17 1 year ago

    I had a lot of IC's that I'd acquired and was slowly selling via ebay. Just pulled all my ads down. The last thing I want is ebay to have direct access to my bank account.

    If they wanted to process payments themselves they shouldn't have sold off paypal.

    #18 1 year ago
    Quoted from HHaase:

    I had a lot of IC's that I'd acquired and was slowly selling via ebay. Just pulled all my ads down. The last thing I want is ebay to have direct access to my bank account.
    If they wanted to process payments themselves they shouldn't have sold off paypal.

    So PayPal is still a payment option, right? I wonder why they want our bank accounts then?

    #19 1 year ago

    What about one of the other seller sites I see advertised, Mercari (not sure of spelling)?

    They have been bombarding my TV waves lately.

    I had wondered why these other seller sites were popping up, guess now I have my answer.

    14
    #20 1 year ago
    Quoted from Westsiderkg:

    I wonder why they want our bank accounts then?

    So they can reverse payments at the slightest hint of complaint from a buyer.

    #21 1 year ago

    Whats Ebay?

    #22 1 year ago
    Quoted from phil-lee:

    So they can reverse payments at the slightest hint of complaint from a buyer.

    BOOM

    #23 1 year ago
    Quoted from Westsiderkg:

    So PayPal is still a payment option, right? I wonder why they want our bank accounts then?

    For making payments, I think so, but I haven't checked. As a seller I can't receive paypal any longer via ebay, they want payments to go straight to my bank.

    #24 1 year ago

    Ebay is still a thing?

    13
    #25 1 year ago

    If you are a business you should not be paying sales tax on the front end only on the back end. You should be using your tax resale certificate at time of purchase and then pay the tax when you sell the product.

    #26 1 year ago

    why would anyone want to give out this information and account access to ebay.or as I have recently learned to anyone.i have recently been enlightened that local cash on the glass is best for buyers and sellers.for machine purchases anyway.But for parts and add ons that may be different as these arent as readily available locally as machines which pop up for sale often

    10
    #27 1 year ago
    Quoted from gliebig:

    Ebay is still a thing?

    It's still a significant enough "thing" to allow me to make an extra $6000 over the past few months before the holidays. Say what you want about it however over the past 20 years I've sold close to $88K and without eBay I would never have been able to get the amount of exposure I did to sell many of my items.

    eBay is far from perfect and their fee structure sucks as well as their decisions to always side with the buyer but for me it was a small price to pay for how much I was able to sell over the years. And before places like Pinside and the KLOV forums it was a critical asset for me obtaining many of the arcade boards and parts I still have today that were unobtainable at the time since there was really no place else to buy them besides distributors which charged a fortune.

    I'm curious what will happen if someone purchases one of my current listing because they were not canceled and according to the message eBay sent me if I don't update my account then I will just lose "your ability to revise or relist existing listings, or create new listings will be disabled." Wonder if they will hold the money hostage and make me upgrade or if it will still go through paypal since they were created before the change. Luckily none of the items I have listed are expensive so it's a chance I am willing to take.

    #28 1 year ago

    Great news. Ebay was so much better in the 90s when it was consumers AUCTIONING things, before businesses took it over. Maybe next they'll do away with "buy it now."

    #29 1 year ago
    Quoted from polyacanthus:

    Great news. Ebay was so much better in the 90s when it was consumers AUCTIONING things, before businesses took it over. Maybe next they'll do away with "buy it now."

    "Buy it now" has it's advantages and disadvantages. As a buyer you can get lucky if someone lists something lower then market value because you can buy it instead of entering into a bidding war. As a seller it helps a lot of times because people want to buy something now and not wait 7 days for bidding to end. It's the Amazon effect where people are used to buying and getting within a few days. If I am listing something that is common and there are lots on eBay then I will typically just do "buy it now" and allow people to make offers. However if I am listing something rare with hardly any on eBay then I will list as a standard auction a let people get into bidding wars.

    I do miss the days of sniping auctions at the last second. It was exciting and a adrenaline rush back before they had bots that automatically did it. Plus there was always the risk if you waited too long then the bid would not go through since you were using dial up internet and bids had a few seconds delay.

    #30 1 year ago

    good , now i wont have to see the pinsidetrading sponsored games listed for 3 times there value every time I search games on feebay

    #31 1 year ago
    Quoted from phil-lee:

    So they can reverse payments at the slightest hint of complaint from a buyer.

    Touche....

    #32 1 year ago
    Quoted from Atari_Daze:

    What about one of the other seller sites I see advertised, Mercari (not sure of spelling)?
    They have been bombarding my TV waves lately.
    I had wondered why these other seller sites were popping up, guess now I have my answer.

    My wife uses that all the time. Only thing that concerns me as a seller is you have to ship it without getting any payment then hope the buyer is satisfied, and indicates such to marcari, otherwise no $$$.

    #33 1 year ago

    It's not all that different. I've been on it for about 8 months on 3 accounts. You already had to give paypal your SSN and bank info, how's that different than giving it to ebay? Only thing I don't like is managed payments force a transfer at a minimum of weekly. I was used to letting my paypal balance build up for a couple months at a time.

    #34 1 year ago
    Quoted from Westsiderkg:

    So PayPal is still a payment option, right? I wonder why they want our bank accounts then?

    Buyer's see no difference. As a seller, the money is collected by ebay instead of paypal. You have an ebay managed payment balance instead. Fees are automatically taken out of that balance during each transaction instead of you paying your ebay fees monthly.

    #35 1 year ago
    Quoted from phil-lee:

    So they can reverse payments at the slightest hint of complaint from a buyer.

    True, but paypal already did the same.

    10
    #36 1 year ago

    As someone who actually works for a living and gets a W-2, you're damn right that I want "small business" profiteers to pay their fair share too. Too many cheats out there making the tax bill bigger for everybody else.

    #37 1 year ago
    Quoted from loneacer:

    It's not all that different. I've been on it for about 8 months on 3 accounts. You already had to give paypal your SSN and bank info, how's that different than giving it to ebay? Only thing I don't like is managed payments force a transfer at a minimum of weekly. I was used to letting my paypal balance build up for a couple months at a time.

    I've been a Paypal member since 2001 and never had to give my SSN. Likely something they required years later.

    image (resized).png

    #38 1 year ago

    Been a member since 1998. Watched it go from a cool, original idea, to a stinking turd. Haven't sold on there in ages and the last thing I bought was 5 months ago. Hasta la Vista, ebayby.

    #39 1 year ago

    I refused to give my ss # to my dentist
    I am not giving it to ebay.
    I have an account but never went to the trouble of selling on there.
    Since it began i have only made 3 or 4 purchases
    I found that if something WAS a good deal, the bidding by buyers and the sellers themselves made that item hardly worth buying.
    Most things are available somewhere else.

    #40 1 year ago

    My federal tax returns were hacked a few years back. The hackers had my ss#, name, address, etc. Everything! It turned out to be a huge problem causing my refund to be delayed for the best part of a year. The only way I eventually got my refund was by calling a Congressman's office to complain about the delay. Now, every year, the gov sends me a super secret number that I have to include on my tax return in order for it to be processed.

    At the time, I made a call to the local FBI office (friend is an agent) to see what could be done and their hacker expert said one of the biggest problems with stuff like this is people being asked for, and giving out, their ss#. He said never never never give out your ss# except to your employer and your bank or investment company (for reporting of income). He said too many Dr, dentist and other offices are getting these numbers which are then being leaked intentionally or unintentionally. Since then, I have steadfastly refused to give out my ss#. I usually get some pushback, but eventually they give up. There is no way I would ever give my number to Ebay! I stopped using them anyway years ago when all of this stuff first started happening.

    #41 1 year ago

    yah I have been using ebay since 2000 or so and this is probably it for me as far as selling goes.

    Not a chance in hell I am letting them link to my bank account etc.

    #42 1 year ago

    I went to check this out, as I was going to list some stuff this winter and noticed my account was limited to 1 listing a month or 10 bucks, whichever came first!

    100% feedback going all the way back to '98 and I can't even list junk. It's a shame too, for niche hobbies. It's not like I have 100 Atari Cat Boxes to sell. Might as well just shut down the collectibles section.

    #43 1 year ago
    Quoted from loneacer:

    It's not all that different. I've been on it for about 8 months on 3 accounts. You already had to give paypal your SSN and bank info, how's that different than giving it to ebay?

    Paypal never required SSN# with me or I would have left earlier.
    Ebay was severely hacked a few years ago,people don't remember this.
    It's simply another bad Business decision reflected in their stock price.
    Ebay creates paypal to get out of handling payments> Ebay spins off paypal> Ebay begins building another paypal to get around the old paypal being spun off. Bad management bad Company.

    #44 1 year ago
    Quoted from slicknick13:

    100% feedback going all the way back to '98 and I can't even list junk. It's a shame too, for niche hobbies.

    Yeah - It sucks to work hard at creating a Feedback Profile in the thousands with 100% Positive Ratings only to have that turned into nothing, overnight.

    Only ones who benefit from all of that effort were eBay. F them. Dry. In an uncomfortable place.

    #45 1 year ago

    The difference between Ebay and Facebook is that on Ebay, you can see everything in the US and with Facebook I'm not sure you get national results when you type in the word pinball.

    #46 1 year ago
    Quoted from phil-lee:

    Ebay creates paypal to get out of handling payments> Ebay spins off paypal> Ebay begins building another paypal to get around the old paypal being spun off. Bad management bad Company.

    Ebay didn't create paypal. They originally had Billpoint, which couldn't compete with paypal. They shut down Billpoint and bought paypal.

    The new managed payment system gets them more in line with Amazon. Now they handle your selling balance and fees directly per transaction, the same as selling on Amazon.

    #47 1 year ago
    Quoted from pinballshack:

    The difference between Ebay and Facebook is that on Ebay, you can see everything in the US and with Facebook I'm not sure you get national results when you type in the word pinball.

    FB marketplace is the new craigslist. 9/10 buyers are just time wasters. "Is this still available". "Yes". Crickets.

    #48 1 year ago

    I still sell on CL.
    I have been doing it so long now that i can tell the trolls and just dont answer.
    If i miss a sale, eh, no crack tonight.
    The problem is not selling machines but selling other smaller unique items.
    I will not join facebook or twitter or any other media things like that.

    #49 1 year ago
    Quoted from loneacer:

    The new managed payment system gets them more in line with Amazon. Now they handle your selling balance and fees directly per transaction, the same as selling on Amazon.

    Yeah, I don't do amazon, I go out of my way to keep from giving them one dollar. Them dictating these type of requirements that others like eBay pickup is a good example.

    #50 1 year ago
    Quoted from sbmania:

    My federal tax returns were hacked a few years back. The hackers had my ss#, name, address, etc. Everything! It turned out to be a huge problem causing my refund to be delayed for the best part of a year. The only way I eventually got my refund was by calling a Congressman's office to complain about the delay. Now, every year, the gov sends me a super secret number that I have to include on my tax return in order for it to be processed.
    At the time, I made a call to the local FBI office (friend is an agent) to see what could be done and their hacker expert said one of the biggest problems with stuff like this is people being asked for, and giving out, their ss#. He said never never never give out your ss# except to your employer and your bank or investment company (for reporting of income). He said too many Dr, dentist and other offices are getting these numbers which are then being leaked intentionally or unintentionally. Since then, I have steadfastly refused to give out my ss#. I usually get some pushback, but eventually they give up. There is no way I would ever give my number to Ebay! I stopped using them anyway years ago when all of this stuff first started happening.

    This EXACT thing happened to me. It was horrible.

    There are 148 posts in this topic. You are on page 1 of 3.

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