Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Latest Breaking News

Grasswire2

(13,849 posts)

13. what a mess, still

Reply to BumRushDaShow (Original post)

Wed Nov 22, 2023, 12:34 AM

Nov 2023

I thought the problem would be solved for another year. Ridiculous. EBay looks like a mess these days, too. I guess I'll take some stuff to a consignment shop.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

32 replies

= new reply since forum marked as read

Highlight:

IRS delaying $600 payment reporting rule for PayPal, Venmo and more -- again [View all] BumRushDaShow Nov 2023 OP

WTF I gotta report when friends Venmo me money to cover lunch, etc.? SunSeeker Nov 2023 #1

From what some people say, it appears so DFW Nov 2023 #5

No, only if you are selling goods and services. Axelrods_Typewriter Nov 2023 #7

But if you get a 1099 for it, you have to report it and explain why its not taxable. SunSeeker Nov 2023 #11

Yeah, does that throw an audit flag? The IRS loves picking on the little guy and lets billionaires slide. TheBlackAdder Nov 2023 #14

How about if let's people add to their jimfields33 Nov 2023 #28

If I were the IRS DFW Nov 2023 #2

It is currently $600 and they are considering raising it to $5,000. twodogsbarking Nov 2023 #3

It's currently $20k, and the IRS is talking about phasing in Calista241 Nov 2023 #19

The law making it $600 was passed well over two years ago, it's not new MichMan Nov 2023 #20

It should have never passed n/t Polybius Nov 2023 #22

Why did Congress pass it then? MichMan Nov 2023 #9

It was part of the ARP (American Rescue Plan) that passed in 2021. Calista241 Nov 2023 #18

I've been issuing 1099s at work since the late 1980s Unwind Your Mind Nov 2023 #15

Even if you receive less than $600 you are expected to report it. twodogsbarking Nov 2023 #4

I got harassed by PayPal over this last year Shermann Nov 2023 #6

Congress passed it intentionally at $600 MichMan Nov 2023 #8

It already does with 501(c)(3) requirements. SunSeeker Nov 2023 #12

This is another reason why our tax system is a JOKE. oldsoftie Nov 2023 #10

A VAT would be nice. Elessar Zappa Nov 2023 #30

Its all in presentation. I would pay MORE under a VAT but I dont care oldsoftie Nov 2023 #31

what a mess, still Grasswire2 Nov 2023 #13

The real problem I think is Unwind Your Mind Nov 2023 #16

2024 is an election year. Anger, not confusion, is the concern Jose Garcia Nov 2023 #17

I avoided selling stuff on ebay this year because of this rule Tom Rinaldo Nov 2023 #21

Is the law $600 or more for one item? Polybius Nov 2023 #23

I believe it would have been over $600 in a year (but that's just how I read it) Tom Rinaldo Nov 2023 #25

+1 CountAllVotes Nov 2023 #27

I sold my guitar on ebay CountAllVotes Nov 2023 #24

Techically I think they will allow you to offer a reasonable estimate of your initial purchase price Tom Rinaldo Nov 2023 #26

fking stupid for coming up with pos like that. rockfordfile Nov 2023 #29

this is why i quit being a vendor at the local Farmers Market samnsara Nov 2023 #32