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02-08-2022, 05:52 PM
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#11
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Moderator
Moderator
Join Date: Sep 2013
Location: San Diego
Posts: 10,199
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Quote:
Originally Posted by Ish3183
I?m about to sell my XM X-men pieces. eBay worries me with the scam stories I?ve heard but there?s not many options. Would prefer to list here first but doesn?t seem like much activity in the buying/selling forum.
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Well, a couple things to think about. First, the "scam stories" get all the social media publicity. No one goes around plastering all their successful uneventful Ebay transactions on social media Second, just because someone is selling an expensive statue, that doesn't automatically make them a good seller, and the only possible negative in the transaction is automatically the buyer. It's laughable how many broken statues I've received from sellers that packed them like a child putting their toys away in a box.
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02-08-2022, 06:20 PM
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#12
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Brotherhood of Evil Mutants
Join Date: Dec 2018
Location: USA
Posts: 887
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Quote:
Originally Posted by SDguy
Well, a couple things to think about. First, the "scam stories" get all the social media publicity. No one goes around plastering all their successful uneventful Ebay transactions on social media Second, just because someone is selling an expensive statue, that doesn't automatically make them a good seller, and the only possible negative in the transaction is automatically the buyer. It's laughable how many broken statues I've received from sellers that packed them like a child putting their toys away in a box.
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That just highlights the risk of transactions on eBay. Hopefully I will have no issues.
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02-08-2022, 06:28 PM
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#13
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Rescue
Join Date: Sep 2013
Posts: 15,869
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Guy sent me a statue loose in the box without the styrofoam. No wrapping, just knocking around in the space of the otherwise empty original box.
Surprisingly arrived only broken into 5-6 pieces. As soon as I made the claim on eBay even without pictures within 10 minutes the seller refunded the full amount.
I mean could have just given to a kid or a comic shop or something. Point is, as a populations, no matter how bad buyers can be sellers are WORSE which is why eBay works the way it does.
Quote:
Originally Posted by SDguy
Well, a couple things to think about. First, the "scam stories" get all the social media publicity. No one goes around plastering all their successful uneventful Ebay transactions on social media Second, just because someone is selling an expensive statue, that doesn't automatically make them a good seller, and the only possible negative in the transaction is automatically the buyer. It's laughable how many broken statues I've received from sellers that packed them like a child putting their toys away in a box.
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02-09-2022, 09:04 AM
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#14
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Moderator
Moderator
Join Date: Sep 2013
Location: San Diego
Posts: 10,199
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Quote:
Originally Posted by Ish3183
That just highlights the risk of transactions on eBay. Hopefully I will have no issues.
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Not quite. It highlights the risk of shipping, and the risk of non in-person transactions. But more importantly it highlights how you can remove a lot of the risk by being a informed buyer/seller. The intentional scam is very very rare IMO/E.
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02-09-2022, 09:27 AM
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#15
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Brotherhood of Evil Mutants
Join Date: Dec 2018
Location: USA
Posts: 887
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Quote:
Originally Posted by SDguy
Not quite. It highlights the risk of shipping, and the risk of non in-person transactions. But more importantly it highlights how you can remove a lot of the risk by being a informed buyer/seller. The intentional scam is very very rare IMO/E.
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I haven?t sold on eBay in quite some time. Sounds like I need to read up on best practices for selling. Any suggestions?
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02-09-2022, 10:42 AM
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#16
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Borrow money from a pessimist, they don't expect it back.
Join Date: Apr 2021
Location: US
Posts: 730
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You are only taxed on the capital gain (what you paid for it - sold price - fees - shipping ). You also have short term/long term capital gains. The tax is based on your income bracket as well , I believe.
However, if you are using eBay rarely, then you could make the argument it’s a hobby, not a business to make money.
Always best to talk to a tax accountant if you don’t know, since it can get complicated.
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02-11-2022, 03:02 PM
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#17
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I was trying to daydream, but my mind kept wandering.
Join Date: Oct 2018
Location: USA
Posts: 2,688
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Quote:
Originally Posted by cyberpunk12
Hey everyone... since a lot of us sell statues and collectibles, I was wondering how the rest of you (in the US) are going to handle the new tax rules for 2022.
The way I understand it, once you go over $600 in online payments, you will get a 1099-K and have to report it (American Rescue Plan) in 2023.
I'm reading that Uncle Sam is going to want as much as 28% of the sales, regardless of profit/loss.
I'm no tax expert but I've got to start unloading and it looks like I waited at least a year too late.
I was just wondering how the rest of you are preparing and how I should save enough for the tax man.
Thanks!
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Simple. I will be ignoring this overreach. It's not like I can make a profit now with eBay's fees. Now the big guy wants his 10% from us plebs.
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02-11-2022, 03:18 PM
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#18
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Moderator
Moderator
Join Date: Sep 2013
Location: San Diego
Posts: 10,199
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Yeah I just ignored the 2021 form I got since it actually was in error and didn't break the thresholds $20,000/600 sales. That said, I assume it would be like other 109X forms where you'd report it as is (the gross) but then manually adjust that number to actual taxable based on how much of the gross was profit. I would just enter $0. They can audit me for that occasional $200 every off year
For people making $1000's in profit each year doing this, well, frankly, I don't think I'm here to die on a hill with you
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