Part time homeowner and hobby sellers are exempt from what Ive been told.
They are going after the high volume strictly commercial sellers....at least
----- Original Message -----
From: "Randall, Randy" <Randy.Randall@healthall.com>
To: "'Glen Zook'" <email@example.com>; "Amplifier Reflector"
<firstname.lastname@example.org>; "RICHARD SOLOMON" <email@example.com>
Sent: Monday, May 24, 2010 9:28 AM
Subject: Re: [Amps] Time to Quit Using PayPal?
> Well if I buy something for $1000 and sell it used for $800 the IRS wants
> a cut for something I lost money on? This will be an accounting
> nightmare!!! You will need to keep receipts on everything you might sell
> on Ebay to prove you took a loss? Does that mean that the buyer will
> have to pay taxes on the purchase also? Double taxation just like on
> your used car when you sell it. The 2nd buyer pays taxes on something
> that has already been taxed. When are they going to require a tax on my
> kids allowance?
> Randy AB9GO
> Randy E. Randall
> Network Engineer
> 3200 Burnet Ave
> Mail Stop Room 4610
> Cincinnati, Ohio 45229
> Phone: 513-585-7146
> Fax: 513-585-7159
> "In theory, theory and practice are the same thing. In practice they're
> -----Original Message-----
> From: firstname.lastname@example.org [mailto:email@example.com] On
> Behalf Of Glen Zook
> Sent: Friday, May 21, 2010 9:53 PM
> To: Amplifier Reflector; RICHARD SOLOMON
> Subject: Re: [Amps] Time to Quit Using PayPal?
> Unfortunately, the Internal Revenue Service is "cracking down" on people
> who sell things using eBay and PayPal. It seems that way too many persons
> are making profits selling items and not reporting them to the IRS. It
> isn't PayPal's idea to get Social Security numbers, it is the United
> States Government's requirements. PayPal and eBay are going to have to
> report sales figures to the government!
> Glen, K9STH
> Website: http://k9sth.com
> --- On Fri, 5/21/10, RICHARD SOLOMON <firstname.lastname@example.org> wrote:
> Let's see ... they (PayPal) have your Name, Address & Phone Number. If you
> link your account to a Bank Account, they have a routing number. Now they
> want your SSN !!!
> As a philosophical old drunk once told me ..."Trust Me" ...
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