$50MM/250K Sales Recorded!
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relentlesskevin
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Paypal will be automatically submitting statements to the IRS, so it is your responsibility to declare the income at the end of the year. I also heard that they will be submitting statements over $5k or more... not sure if you need to declare anything under $20k... yet...tomdon wrote:You don't have to report on taxes 'til you flip 200 items or 20,000 dollars on EBay. Now you know.
http://reviews.ebay.com/2012-IRS-TAX-LI ... 0131804104
But i wonder how much Paypal submits as revenue for the millions they make in interest off of everyone's cash that in their account and the money they have on hold for transactions.
yea i got hit with the paypal tax return last year. Included my website sales and ebay sales...pretty nuts to see it for the first time since using Paypal in 2000.tomdon wrote:You don't have to report on taxes 'til you flip 200 items or 20,000 dollars on EBay. Now you know.
http://reviews.ebay.com/2012-IRS-TAX-LI ... 0131804104
I have a question about this if any one can help,acidburn wrote:yea i got hit with the paypal tax return last year. Included my website sales and ebay sales...pretty nuts to see it for the first time since using Paypal in 2000.tomdon wrote:You don't have to report on taxes 'til you flip 200 items or 20,000 dollars on EBay. Now you know.
http://reviews.ebay.com/2012-IRS-TAX-LI ... 0131804104
if I switch payments to my partners's paypal account before I hit the 20,000 mark. will i still get taxed? or will I have to creat a new ebay account for him altogether to avoid the tax?
as in, is ebay the one reporting on its sales or more of paypal is the one reporting?
Have No Fear!!!!!!!!!!!!!!The Nation is Here!!!!!!!!!!!!!!
eBay and paypal are the same company (or more accurately, Paypal is owned by eBay). Some segments of their businesses are separate, but on this I think they're working together.
I think the "issue" for you might be that if you're married, the two will be combined on your tax return(s). If you're really considering this, I'd search out an accountant who might know the "real" answer for you...
I think the "issue" for you might be that if you're married, the two will be combined on your tax return(s). If you're really considering this, I'd search out an accountant who might know the "real" answer for you...
Tra la la la la...
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jimmybobo1
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Unless they file seperate I would assume.
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MEARONE227
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rock on, congrats...
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seeker1115
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Guys, this news is from 2009. It's over three years old.
Dear anybody, please do a badass print of Rian Johnson's Brick. If necessary, I'll buy them all.
2013 should bring some more milestoneslsmith55 wrote:Then we need an updated total!
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But-we-unleashed-a-lion
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dougr wrote:2013 should bring some more milestoneslsmith55 wrote:Then we need an updated total!
$104149644.77
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WalterSobchak
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jamesgunter wrote:one time i accidentally reported (by mistake) more in gambling losses than total income for the year, ...no one noticed
Every morning I awake as someone else.