Back to the topic of eBay, the IRS and 1099’s. How can the IRS justify charging income tax on the sale of an item that was paid for with post tax income, sales tax paid at original purchase and sold at a depreciated price. They should refund the sales tax on the depreciated amount. Time to dump some tea in the harbor!
New ebay payments require SS#?
I received an email from ebay and they now will deposit your amount from a sale directly into your bank account. So, they require your routing and account numbers. But they also required my SS number, which I'm not sure I like. They say the purpose is to comply with government regulations. Is there any reason to think they would transmit the amount of your sales to the irs and issue you a 1099? I only occasionally sell used items on ebay and don't consider any amount I receive to be taxable income. Thoughts?