[Amps] Time to Quit Using PayPal?

[Randall, Randy]

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 not."


-----Original Message-----
From: amps-bounces at contesting.com [mailto:amps-bounces at contesting.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 <w1ksz at q.com> 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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