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<span style="font-family: helvetica; font-size: 12pt;">Bob,</span>
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<span style="font-family: helvetica; font-size: 12pt;">As different Bob said, you may taxes on income. I think when ebay started it was a lot of folks selling stuff around the garage or house. Technically, if you sell it for more than you paid for it you owe taxes on the difference (at least to the feds and here in NJ). I don't think the IRS cared because it was lots of individuals making a little money cleaning out their junk. Now, it seems to be mostly professional sellers. They would have to pay taxes if they sold in a bricks-and-mortar store or an Amazon store, why shouldn't they pay taxes on ebay. If you sell a $10 NOS part for $5, you don't have income and don't have to pay taxes. When you sell 100,000 heat shrink butt connectors you bought in China for 1 cent each for 25 cents each, you have lots of income.</span>
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<span style="font-family: helvetica; font-size: 12pt;">As for whether you can write off the loss when buying high and selling low, talk to your tax advisor.</span>
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<span style="font-family: helvetica; font-size: 12pt;">Tom </span>
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On 01/31/2021 4:58 PM Kinderlehrer <kinderlehrer@comcast.net> wrote:
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<p class="MsoNormal"><strong><span style="font-size: 11.0pt; font-family: 'Calibri','sans-serif'; color: #1f497d;">Bob, </span></strong></p>
<p class="MsoNormal"><strong><span style="font-size: 11.0pt; font-family: 'Calibri','sans-serif'; color: #1f497d;">You get to subtract your costs from revenue to get net income, so you would not have to pay taxes in your examples. Under certain circumstances, you might even be able to claim a loss.</span></strong></p>
<p class="MsoNormal"><strong><span style="font-size: 11.0pt; font-family: 'Calibri','sans-serif'; color: #1f497d;">A different Bob</span></strong></p>
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<p class="MsoNormal"><strong><span style="font-size: 10.0pt; font-family: 'Tahoma','sans-serif';">From:</span></strong><span style="font-size: 10.0pt; font-family: 'Tahoma','sans-serif';"> Triumphs [mailto:triumphs-bounces@autox.team.net] <strong>On Behalf Of </strong>Bob<br><strong>Sent:</strong> Sunday, January 31, 2021 1:32 PM<br><strong>To:</strong> triumphs@autox.team.net<br><strong>Subject:</strong> Re: [TR] eBay</span></p>
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<p>I fail to understand how you can owe taxes on something you already paid for with income left over after paying fed and state income taxes. For example: Say I have some NOS oil filters that I picked up from TRF years ago but decided to sell the car and I no longer need them. So I decide to sell them for whatever I can get. How is paying say 10$ for the original filter and then selling it for 5$ income?</p>
<p>Earlier in the Fall I sold a few tools I will never use again because my restoration days are over. They went for about 25% of their current value. </p>
<p>Also; say you sell a used car in a private deal. How can that be income? I sold a motor cycle and a used car a few years ago. The buyer has to pay sales tax when they registered them but this is not income.</p>
<p>Bob</p>
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<p class="MsoNormal">On 1/31/21 3:26 PM, Thomas FitzGibbon wrote:</p>
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<p class="MsoNormal"><span style="font-family: 'Helvetica','sans-serif'; color: #333333;">"Fisrt off it is ILLEGAL to have any company require your SS number for ident." </span></p>
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<p class="MsoNormal"><span style="font-family: 'Helvetica','sans-serif'; color: #333333;">If I am not mistaken, ebay is NOT requiring SSNs as a form of identification. I believe I read an article recently that says the IRS is cracking down on them and requiring them to report on transactions so the IRS can assess taxes that are due (much like when a company sends a form 1099 to contract workers). That does require a SSN or other TIN be provided. </span></p>
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<p class="MsoNormal">On 01/31/2021 12:35 PM dave <a href="mailto:dave@ranteer.com"><dave@ranteer.com></a> wrote:</p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;">Its for sellers, not buyers. But they are eliminating paypal as an option</p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><strong>From:</strong> Triumphs <a href="mailto:triumphs-bounces@autox.team.net"><triumphs-bounces@autox.team.net></a> <strong>On Behalf Of </strong>Rye Livingston<br><strong>Sent:</strong> Sunday, January 31, 2021 9:59 AM<br><strong>To:</strong> John Linney <a href="mailto:john@linneyweb.com"><john@linneyweb.com></a><br><strong>Cc:</strong> <a href="mailto:triumphs@autox.team.net">triumphs@autox.team.net</a><br><strong>Subject:</strong> Re: [TR] eBay</p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;">Yes I agree, something isn’t right here. eBay is not going to ask for a SSN number to buy something any more than the local grocery store. </p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;">Rye</p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;">On Jan 31, 2021, at 7:46 AM, John Linney <<a href="mailto:john@linneyweb.com">john@linneyweb.com</a>> wrote:</p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 9.0pt; font-family: 'Helvetica','sans-serif';">The SSN is only needed if you are setup as a seller so they can report income as required by the IRS. It’s no different to becoming an Amazon seller. The SSN is provided on a government W9 form. Any other reason or form of request may be a phishing scam.</span></p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; margin-bottom: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Helvetica','sans-serif';">On Jan 31, 2021, at 7:26 AM, Paul Tegler <<a href="mailto:ptegler@verizon.net">ptegler@verizon.net</a>> wrote:</span></p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 9.0pt; font-family: 'Helvetica','sans-serif';">�hadn't heard that yet.</span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 9.0pt; font-family: 'Helvetica','sans-serif';">Fisrt off it is ILLEGAL to have any company require your SS number for ident. Even hospitals etc can not legally require you supply that info.<br>BTDT� way too many times. Your SS is NOT ana 'national ident' number. Bt Fed law it is ONLY a SS usage number.� I work for DoD and they even changed over a couple years back from using your SS to having full up employee numbers.<span class="apple-converted-space"> </span></span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 9.0pt; font-family: 'Helvetica','sans-serif';">ptegler</span></p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 9.0pt; font-family: 'Helvetica','sans-serif';">On 1/31/2021 5:37 AM, dave wrote:</span></p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;">eBay is requiring a bank account and a social security number.� i'm done.</p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;">�</p>
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;">what other avenues are available for buying and selling?</p>
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