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bowtiguy · 01-12-2022

Heads up on paypal. If its not "friends & family" , PP will be sending out 1099's once you hit the $600 threshold. That means you pay INCOME tax AGAIN when you sell your used items. (24% for me).

I've confirmed that Ebay, Paypal, Venmo, Zelle and Gun Broker will ALSO be sending 1099's.

Crappy world we live in when the federal goverment charges tax on our income, sales tax us on items we buy then charges us income tax AGAIN when we sell our used items.

01-12-2022	#4
bowtiguy Join Date: Aug 2005 Location: Cali-rodo Posts: 262	Re: 4 sale: Misc collectibles, floor mats Heads up on paypal. If its not "friends & family" , PP will be sending out 1099's once you hit the $600 threshold. That means you pay INCOME tax AGAIN when you sell your used items. (24% for me). I've confirmed that Ebay, Paypal, Venmo, Zelle and Gun Broker will ALSO be sending 1099's. Crappy world we live in when the federal goverment charges tax on our income, sales tax us on items we buy then charges us income tax AGAIN when we sell our used items.