The Ebay Advice Column

Talk about art related subjects here. Post lifespan is 1 year.
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haven
Art Expert
Posts: 5514
Joined: Thu May 29, 2003 12:00 am

Mon Jan 25, 2021 3:35 pm

How about Michigan?
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mattlew69
Art Expert
Posts: 8638
Joined: Thu Sep 13, 2007 5:03 pm
Location: Midwest

Mon Jan 25, 2021 4:15 pm

I think Michigan follows the Federal guidelines but dont quote me.

And yes, no matter what you have been selling, if you make a profit, you should legally always be claiming your profits and pay the taxes on such profits.

I create an excel form showing what I paid for the item, what I sold it for (minus pp and ebay fees) and show my profit. I do this for all my listings that I sell and send it with my taxes. I also have receipts to back it up, but I dont provide those, unless I were to get audited.

Now if I were only selling a handful of times, over the year and under a couple thousand dollars, I don't think I would really worry about it, unless you get a tax form from eBay or PayPal.
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jjttdw
Art Expert
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Joined: Thu Feb 25, 2010 11:45 pm

Mon Jan 25, 2021 5:09 pm

Crazy that someone will have to pay regular income tax rates on selling fudge from around the house while Bezos pays 20% cap gains on how ever many billions he has.
NEWPORTS69 wrote:ive kept journal for very long time and ranked public restrooms because i srs hate using them, was working on an app but im not very smart
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Codeblue
Yaks 2 Much
Posts: 53330
Joined: Sun Nov 07, 2004 1:00 am
Location: Expresso Beans

Mon Jan 25, 2021 5:12 pm

^Welcome to the machine. #jobcreatorstho

P.S. If ya think he's actually paying even 20% after all his deductions yer cray.
RupertPupkin wrote:I live by this rule and this rule alone: people are drymounting idiots.
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guryter
Art Expert
Posts: 3374
Joined: Mon Jul 30, 2007 3:44 pm

Mon Jan 25, 2021 5:31 pm

'murica!
Stingers wrote:If you can't get it up eat less fudge, excersise and stop being a kitten.
john38103 wrote:All gin every thing. drymount all you hoes.
Relax, I honestly don't give a fudge.
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ygolohcysp
Art Expert
Posts: 1057
Joined: Wed Jun 04, 2014 12:57 pm

Mon Jan 25, 2021 7:04 pm

Start your own business dudes.
A public relations nightmare

SLAPPED WITH FLIPPING
kansasbbq
Art Freak
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Joined: Tue Sep 15, 2009 6:46 pm
Location: AUSTIN, tx

Mon Jan 25, 2021 8:46 pm

BENYOUNG20 wrote:
Mon Jan 25, 2021 3:13 pm
I believe there was several states that changed this auto 1099k level, not just IL. Several New England states I think lowered the number to $600.
Damn!
Codeblue wrote:#whydidntilisten2kbbq
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mattlew69
Art Expert
Posts: 8638
Joined: Thu Sep 13, 2007 5:03 pm
Location: Midwest

Mon Jan 25, 2021 11:13 pm

Once summer hits, I am selling all my posters at a garage sale! #govtaintgettinnoneofmymoney
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juxtaposedprints
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Posts: 7
Joined: Wed Sep 30, 2020 4:17 pm

Tue Feb 02, 2021 6:47 pm

anyone deal with this guy before? quite the profile. :roll:

https://www.ebay.com/usr/dalifraudexpert

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"Fine art consultant and legal investigator with 20 years experience. I actively participate in reporting fraudulent art sales to Federal and Local authorities. My cases have led to the successful seizure of over 30 million dollars in contraband art."
email: juxtaposedprints@gmail.com
IG / UAA / ebay = juxtaposedprints
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jjttdw
Art Expert
Posts: 7159
Joined: Thu Feb 25, 2010 11:45 pm

Wed Feb 03, 2021 10:29 am

kansasbbq wrote:
Mon Jan 25, 2021 8:46 pm
BENYOUNG20 wrote:
Mon Jan 25, 2021 3:13 pm
I believe there was several states that changed this auto 1099k level, not just IL. Several New England states I think lowered the number to $600.
Damn!
I understand the government's desire to raise money but a $600 limit is total bullshit. In an effort to get my kids to clean up their rooms I sell some of their stuff on eBay for them. All of the stuff they received as gifts through the years. If I added up the total of the final prices it would certainly be north of $1k in the past year. Who knew that a Kylo Ren voice changing helmet would sell for $250. So now this fudge is taxed? Stupid.

I wonder how eBay determines where you live. Maybe just switch your state to someplace with non-idiotic rules.
NEWPORTS69 wrote:ive kept journal for very long time and ranked public restrooms because i srs hate using them, was working on an app but im not very smart
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Philpenn
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Joined: Fri Jan 28, 2011 10:17 am
Location: Keystone Country.

Wed Feb 03, 2021 10:44 am

How is this change going to affect my $40 a year sales? Also, what is the point of my PayPal account anymore once I've spent the $60 balance?
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davemfan
Art Expert
Posts: 1012
Joined: Wed Aug 29, 2007 8:27 am

Wed Feb 03, 2021 11:35 am

Philpenn wrote:
Wed Feb 03, 2021 10:44 am
Also, what is the point of my PayPal account anymore once I've spent the $60 balance?
I like to pay at many online retailers using paypal. That way my CC info is only stored with PayPal and not on the retailers website.
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zeuscarver
Art Connoisseur
Posts: 170
Joined: Mon Mar 31, 2014 2:56 pm
Location: Oakland, CA

Wed Feb 03, 2021 11:59 am

I am trying to sell a limited edition print (duh) and some ebayer with good feedback (like 1500, top rated seller tag) asks me what the edition number is and if it's 'NM or better'

I assume NM = near mint ?
I asked him why he needs the edition number? anyone come across this, some fetishist for the number 13 or 69 or something?
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ygolohcysp
Art Expert
Posts: 1057
Joined: Wed Jun 04, 2014 12:57 pm

Wed Feb 03, 2021 12:12 pm

jjttdw wrote:
Wed Feb 03, 2021 10:29 am
kansasbbq wrote:
Mon Jan 25, 2021 8:46 pm
BENYOUNG20 wrote:
Mon Jan 25, 2021 3:13 pm
I believe there was several states that changed this auto 1099k level, not just IL. Several New England states I think lowered the number to $600.
Damn!
I understand the government's desire to raise money but a $600 limit is total bullshit. In an effort to get my kids to clean up their rooms I sell some of their stuff on eBay for them. All of the stuff they received as gifts through the years. If I added up the total of the final prices it would certainly be north of $1k in the past year. Who knew that a Kylo Ren voice changing helmet would sell for $250. So now this fudge is taxed? Stupid.

I wonder how eBay determines where you live. Maybe just switch your state to someplace with non-idiotic rules.
Its the same as any business that sends you money for services rendered, $600 or more in a year and you get a 1099. It's been that way since I was a child. E-commerce finally catching up
A public relations nightmare

SLAPPED WITH FLIPPING
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soupysound
EB Trainee
Posts: 3786
Joined: Wed Apr 25, 2012 9:38 pm

Wed Feb 03, 2021 12:19 pm

zeuscarver wrote:
Wed Feb 03, 2021 11:59 am
I asked him why he needs the edition number? anyone come across this, some fetishist for the number 13 or 69 or something?
annoys the fudge outta me when they ask what the edition number is. they have no reason why they even want to know. it's beyond stupid. if they are asking for an edition number... .it pretty much means they are not going to buy it and are just wasting your time.
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