Selling to mbp.com
Jul 19, 2019 16:05:15 #
DennisC. wrote:
Does anyone know this answer: if you sell some camera equipment to mpb.com will you get paperwork at the end of the year for taxes?
Here in the UK when you receive the paperwork from MPB, that's it, nothing else is required after that, any taxes are paid at the time of the sale.
Jul 19, 2019 20:22:45 #
bird whisperer
Loc: Massachusetts
I got a 1099K last year for selling camera gear online using Paypal. It was $1400.00 for 2 cameras I sold. Paypal said they have to report any sales over $500.00 to the IRS. Something new? Good luck.
Jul 19, 2019 22:31:38 #
I don’t understand what the tax angle is when you sell used equip to a camera dealer. Please explain.
Jul 21, 2019 13:27:03 #
DennisC.
Loc: Antelope, CA
DeanS wrote:
I don’t understand what the tax angle is when you sell used equip to a camera dealer. Please explain.
No angle, I was just wondering if I would get any additional paperwork from them at the end of the year regarding taxes. I have sold many items on EBay in the past without any concerns.
Jul 21, 2019 13:31:21 #
DennisC.
Loc: Antelope, CA
Thanks to all who replied, I sold a Sony A7sII to them for what I thought was a good price and I have some Nikon gear to unload. Prices are very close to EBay after they take their 13% with PayPal.
Jul 21, 2019 14:59:06 #
bird whisperer wrote:
I got a 1099K last year for selling camera gear online using Paypal. It was $1400.00 for 2 cameras I sold. Paypal said they have to report any sales over $500.00 to the IRS. Something new? Good luck.
That change by eBay may be a result of the new law requiring that online merchants collect sales tax, even though eBay is just a go-between
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