Marlin Watkins Adjustable Trumpet

[HookedonHooks]

Uncle Sam has certainly dipped his hand in and now he's going back for a second helping.

There's a reason Biden wants to hire an additional 87,000 IRS workers, lol. Tax the "rich"

[savannahrivergoobler]

EBAY sends out a 1099 Misc form now?   That dog won't hunt !!!!

If your eBay account clears $600 on the year, you will be receiving a 1099. The same is true if you sell things and receive payments totaling more than $600 through PayPal Goods & Services for the whole year as well.

Tax season is going to be interesting next year to say the least. My initial understanding is that you'll have to provide that you didn't profit off of the sales, and that you were rather just recouping your money from a sale that was already taxed essentially.

Uncle Sam has certainly dipped his hand in and now he's going back for a second helping.

I figured you wouldn't want someone scamming the tax system by not reporting their income from selling calls

[HookedonHooks]

The Cronies really need to work on their reading comprehension.

There's no "income" on recouping money from a purchase. Reselling a call is not wages, or self-employing. The discussion was about how to go about that in a legitimate fashion. Nothing in regards to duping the system at all.

A call maker originally selling a call they made is income, or self-employement. They are responsible for the income tax on the original sale of that item.

[savannahrivergoobler]

The post was about Mr. Marlin selling his trumpets on ebay. It went into why sellers are going to shy away from ebay because of the fees and the 1099 reporting.    Reselling a call is income if you make a profit on the sale.   If someone is filing their taxes correctly getting a 1099 doesn't affect anything other than some extra reporting.