(Topic ID: 286280)

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

By Mikala

3 years ago


Topic Heartbeat

Topic Stats

  • 148 posts
  • 71 Pinsiders participating
  • Latest reply 3 years ago by BoJo
  • Topic is favorited by 5 Pinsiders

You

Linked Games

No games have been linked to this topic.

    Topic Gallery

    View topic image gallery

    0A26385C-D66D-492C-BB11-A225AA379CD1 (resized).png
    7FE0A4A1-D656-4A55-9653-EBD471D4E6B2 (resized).png
    download (2) (resized).jpeg
    image (resized).png
    pasted_image (resized).png
    pasted_image (resized).png

    You're currently viewing posts by Pinsider too-many-pins.
    Click here to go back to viewing the entire thread.

    #127 3 years ago

    21+ years and over 100,000 (unique) items sold on eBay and I am about ready to walk away completely. I just wish they would have waited ONE MORE YEAR until my wife starts with her Social Security check. I have 6 different eBay accounts and they have force me to "change over" two of them and locked me out of a third because I refuse to change it over. I still have 3 other accounts I can sell on and use Paypal but that is going to be "short live" because they are already sending me notices I have to change one of those over the end of this month. As soon as I start using either of the remaining two about a month later I'll get the same notice on those.

    I am listing and selling like crazy right now hoping I can take in enough in the next couple months to be done selling for the year and just walk away. Only time will tell!

    No pinball parts anymore - now I am doing model railroad stuff at about the same volume I was selling pinball parts a few months ago. I wouldn't even mind the change as much if eBay would offer the choice to transfer funds into my Paypal account but now all my sales going through "managed payments" get sent to my checking account and that just doesn't work for me.

    I have been declaring 100% of everything since day one so the 1099 isn't an issue as long as my accountant handles it correctly this year. Last year they screwed it up and added what was on the 1099 to income I had already declared and I ended up overpaying on my takes by almost $5000. Months later I am still waiting for my refund checks from both Federal & State taxes. I think I need a better accountant!

    #129 3 years ago
    Quoted from JohnnyPinball007:

    You big time need a better accountant!

    The Corona Virus mess this year didn't help at all. Our meeting with the accountant this past Spring was on the last day their office was open and everything just had a "weird" feel to it. Typically I would have caught their mistake but we never even got our copies of the paperwork until taxes were already filed and then 1/2 the paperwork we should have gotten we never received never got to us.

    Then in December when I was looking back that the numbers I realized there was a $20,000 mistake in our "net income". Great for us that we overpaid since there would be no penalties or anything because we overpaid instead of under paying. Bad for us because I am still waiting for the refund checks.

    "Shit Happens" but I will be sure I review EVERYTHING this year before forms are set off to IRS. Corona Virus or not this stuff has to be right the first time!

    #130 3 years ago
    Quoted from too-many-pins:

    The Corona Virus mess this year didn't help at all. Our meeting with the accountant this past Spring was on the last day their office was open and everything just had a "weird" feel to it. Typically I would have caught their mistake but we never even got our copies of the paperwork until taxes were already filed and then 1/2 the paperwork we should have gotten we never received never got to us.
    Then in December when I was looking back that the numbers I realized there was a $20,000 mistake in our "net income". Great for us that we overpaid since there would be no penalties or anything because we overpaid instead of under paying. Bad for us because I am still waiting for the refund checks.
    "Shit Happens" but I will be sure I review EVERYTHING this year before forms are set off to IRS. Corona Virus or not this stuff has to be right the first time!

    What makes things tough is we do a ledger with all our sales & income listed. Then eBay sends a 1099 showing our "income" on eBay and Paypal sends us yet another 1099 showing all the money we processed through them. So now all of a sudden I have two 1099's showing money already included in our gross sales?

    Anyway "fool me once shame on you" but "fool me twice shame on me" - it will not happen again!

    You're currently viewing posts by Pinsider too-many-pins.
    Click here to go back to viewing the entire thread.

    Reply

    Wanna join the discussion? Please sign in to reply to this topic.

    Hey there! Welcome to Pinside!

    Donate to Pinside

    Great to see you're enjoying Pinside! Did you know Pinside is able to run without any 3rd-party banners or ads, thanks to the support from our visitors? Please consider a donation to Pinside and get anext to your username to show for it! Or better yet, subscribe to Pinside+!


    This page was printed from https://pinside.com/pinball/forum/topic/has-ebay-finally-done-itself-in-ss-amp1099-sellers?tu=too-many-pins and we tried optimising it for printing. Some page elements may have been deliberately hidden.

    Scan the QR code on the left to jump to the URL this document was printed from.