eBay and Sales Tax (Page 2): I think this is more about unreported income. The sales tax issue was resolved when eEbay made sellers collect tax and create a paper trail.

Ollieboy

I think this is more about unreported income. The sales tax issue was resolved when eEbay made sellers collect tax and create a paper trail.

Woodworm65 Loc: Lombard, IL

The federal government needs to get back all of the money that they printed and gave away, and all that was stolen over the last two years including all that was given to fight the Russians in Ukraine.

DougS Loc: Central Arkansas

Woodworm65 wrote:

The federal government needs to get back all of the money that they printed and gave away, and all that was stolen over the last two years including all that was given to fight the Russians in Ukraine.

Do you really think Putin is just going to stop at Ukraine? NOTE TO MANAGEMENT: Move this to the attic...

BigDaddy Loc: Pittsburgh, PA

Longshadow wrote:

The thing I find interesting is that if you, lets ... (show quote)

I don't think selling a $1400 chair for $700 will be taxed. You're talking capital gains tax, and there was no capital gain. If you are a business and write off $200 a year for chair depreciation, and at the end of 7 years you sell the chair for $700, then you will be taxed because you sold a fully depreciated chair, that you already wrote off, for $700.

One thing for sure though, income tax laws are as bogus and convoluted as the legislatures can make them, and THEY and their crony capitalist buddies know how to get around the bogus laws. The little guy including small business gets screwed most every time.

As far as On-line business not collecting sales tax (Amazon) or not reporting individuals selling stuff (Ebay) I have mixed feelings. I like getting over not paying taxes, but understand that the local brick and mortar is put at a big disadvantage when they had to collect taxes but on-line business doesn't.

Canisdirus

IRS is just getting started...expanded...and weaponized now.

anotherview Loc: California

A court case resolved this matter years ago. All online sales from Internet retailers had to include sales tax for state government. If I recall correctly.

kufengler wrote:

Amazon and many (if not all) large online companies started doing this a long time ago. Idaho's sales tax is 6% which has been collected for several years now. I'll have to check my last eBay purchase to see if it was taken out of that.

Drbobcameraguy Loc: Eaton Ohio

Longshadow wrote:

The thing I find interesting is that if you, lets ... (show quote)

EXACTLY but you are going to have to start keeping impeccable records.

Canisdirus

The IRS is about to get very...draconian.

Blurryeyed Loc: NC Mountains.

jerryc41 wrote:

I'll show them! I'll sell expensive things for very low prices! I know how to outsmart the government. I refuse to make a lot of money!

What really sucks Jerry is that if I sell a lens that I paid a couple of thousand dollars for for let's say $800 but can't find the original receipt..... Well, Slo will say that I made $800 income when in fact I actually lost more than that.

jerryc41 Loc: Catskill Mts of NY

Blurryeyed wrote:

What really sucks Jerry is that if I sell a lens that I paid a couple of thousand dollars for for let's say $800 but can't find the original receipt..... Well, Slo will say that I made $800 income when in fact I actually lost more than that.

You didn't lose anything. You have $800 more than you had before. You have to think like a tax accountant.

I know what you mean, though. It never works in our favor - like paying sales tax on a sale that didn't take place in my state.

Blurryeyed Loc: NC Mountains.

jerryc41 wrote:

You didn't lose anything. You have $800 more than you had before. You have to think like a tax accountant.

I know what you mean, though. It never works in our favor - like paying sales tax on a sale that didn't take place in my state.

Sure I did, I lost the income tax that the Fed's will be looking for on a sale that I made no gain on.

I guess we just see things differently...... BTW, if my accountant thought like that I think I would find a new accountant.

Canisdirus

As long as this is already in the attic...

Globalization won't work until...the USA is beggared...both economically and militarily.
The USA needs to be notched down to something like Canada.

Economics takes care of the miltary...just add time...and it's done.

Then...when the USA needs serious help...cannot lead nor reject...

Then...the globalized government will be formed.

jerryc41 Loc: Catskill Mts of NY

Blurryeyed wrote:

Sure I did, I lost the income tax that the Fed's will be looking for on a sale that I made no gain on.

I guess we just see things differently...... BTW, if my accountant thought like that I think I would find a new accountant.

We don't see things differently, but the tax people do. What annoys me about taxes is the waste. If no one in my extended family had ever paid even one cent in tax - ever - it would have made absolutely no difference to the functioning of anything.

FrumCA

BebuLamar wrote:

But then I bought this cassette deck in 1989 for $1350 and people are offering over $2000 for it. However if I sell it for $2000 I really don't make $650 because my money in 89 is worth a lot more than in 2022. So can I claim inflation????

That's a novel consideration!!

jcboy3

BebuLamar wrote:

But then I bought this cassette deck in 1989 for $1350 and people are offering over $2000 for it. However if I sell it for $2000 I really don't make $650 because my money in 89 is worth a lot more than in 2022. So can I claim inflation????

Of course not. That argument doesn't work with any appreciated asset.

Perhaps some people should read this:

https://www.1040.com/blog/2019/7/12/selling-stuff-online-taxes-for-etsy-ebay-letgo-and-more/

If you sell creative works, I recommend doing it as a business. Then you can write off expenses, and schedule C deductions come off the top and aren't subject to standard deduction limits.