eBay Headaches

General
#1652

Has anyone received their 1099-K from ebay for 2022 yet?

#1653

I have not received one from any source yet. I assume I will soon from at least a couple?

1 Like
#1654

ebay says by the end of Jan

#1655

Did you sell over $20k ?

2 Likes
#1656

Starting in 2022, anyone who sold over $600 will get one. There’s a whole thread in here about it

#1657

Actually, that requirement got pushed out a full calendar year. You should go back to the most recent posts in that thread.

Laws for reporting have not changed, but eBay isn’t required to send you a 1099 if you sold less than $20k.

5 Likes
#1658

Thanks. My bad

1 Like
#1659

But if you did sell less than 20k and eBay isn’t reporting it, you still need to report it on your taxes. You don’t want to get audited and they find that you failed to report income. Unless you like punishment
 :wink:

1 Like
#1660

Typically, businesses have to get 1099s postmarked by the last day of January.

#1661

I got my big chunky spreadsheet showing all the comics I bought and sold. I honestly think I spent more than I made because I bought a lot of books, read them, and then sold them for less than the cover price because they weren’t key at all (or amazing reads) and I already have too many shortboxes taking up space. I’m trying to buy a ton less this year, for my own sanity.

#1662

What hurts is if you are selling inventory from years ago, unless it’s already reported inventory. The full amount is then taxed. Tax man gonna love me for last year’s sales

1 Like
#1663

I see ebays now offering express payments on sold items. They’re charging a 1.5% fee to make it available within 30 minutes.

2 Likes
#1664

Smart move. Time is money.

1 Like
#1665

Can’t really complain about it considering PayPal used to charge a fee on eBay payouts.

#1666

But when ebay got rid of PayPal they upped their fees to essentially “claim” PayPal’s cut.

Rest assured their % cut is more than what they’d make in interest by holding the funds for a few extra days


It’s genius.

1 Like
#1667

I miss getting my eBay sales right in my PayPal. The good old days.

1 Like
#1668

It was easier. You would just get your 1099 right from them and not six different places.

#1669

I tried to snatch a Superman Batman 8 from some places while we discussed it and before Key Collector alerted folks. I was having trouble but did find it for sale as part of a bundle on Mercari (I know this is an eBay category, but I don’t want to make just a Mercari one as we use them all). Almost 3 days later they haven’t shipped. No communication either. If they screw me over I’ll post the name in the group for that.

5 Likes
#1670

I grabbed 8 and 9 from Mile High Comics, $5 ea. price was right, but they only post stock photos. it said NM so we’ll see. Shipped today.

I’ve had good luck before. Two Kanaan #6s came back 9.8s.

#1671

Same. Also got the Vf and fine of #8. Mile High has so much stock they can be hit or miss with grading especially if they don’t store the comics with backing-boards. We’ll see. Funny way back when I bought one of my Kanan #6 from them as well (in NM). Looks like it will grade high when I send it in.