About the new tax law eBay, offerup,etc

[fst312]

I never thought I would ever be posting a thread on this section of gbatemp but with the new year arriving I’m still a bit confused. Are all these selling apps going to share that $600 tax law combined or will they be separate for each. If they aren’t separate I really can’t see many people selling stuff through out the year for some extra cash. Just asking because I got back the mercari app and they say if I don’t fill out a form they won’t let me sell passed $600, not sure if they will have connections to other app sells like eBay or offerup.

 

[FAST6191]

I doubt there will be a centralised server just yet (ever seen the insanity that goes for most government websites/IT programs?), though someone might offer a service that a few subscribe to a la places that buy in credit card handling rather than doing their own.

The issue for you will be that as the data all goes to the government in a ready to digest manner that they could in theory audit that more easily (practical realities vary as to who they go after) than they do now where they would probably have to file a bunch of requests or go to state level actors and... even government lawyer time is less than that.

Short version. Get used to paying capital gains tax (or whatever the local equivalent is called), use tax if that is a thing around you (some places don't do it) and sales tax where it was something of a wild west before, and you might also have to file taxes properly if you have a bit of a hustle going on in such places or deal in bigger ticket items. I have not looked to see what exemptions there are and fiddlings you can do (sometimes if you are married you can combine things here, and certain classes of good, usually personal vehicles in most places I look that try it on here, also might dodge it) but go look up those as well to see if any apply.

 

[GeekyGuy]

Haven't read enough about it yet, but I wonder if that will also apply to folks who are selling their own used vehicles privately (NOT used cars saleman/lots/etc.). If so, shit's gonna get real real fast.

 

[Marc_LFD]

It's bad enough with eBay's fees as it is.

What are the alternatives, Amazon, Facebook Marketplace, Craigslist? Not very good, I'd say.

Once I sell all that I have up, I'm done with it though I'll still buy if there's something I actually want.