Paypal Changes for 2022


If I understand this correctly, Paypal, along with all on-line payment sources like Venmo, etc. will now be sending out 1099 forms for all payments totaling $600 you receive in 2022 for goods or services.  The only way around this is to use Paypal friends and family for payment which eliminates any buyer protections.  Is everyone aware of this?

 

Ag insider logo xs@2xdave43

Unfortunately this thread has degrade into political commentary.  If you want to do that, go to your favorite social media outlet and vent your spleen. 

I stopped selling my electronics a while back because I always regretted it. If I buy online I try to avoid any tax by buying from dealers who have businesses in states who don't require I pay sales tax, although little by little they are becoming  scarce. Nice to know that PayPal will be reporting transaction  info to the government so that if I do sell something with a high price tag I won't be using PayPal except perhaps family and friends. 

I used to love Let go....meet in a safe location and you get payed in Cash....no shipping, big chance of damage, I worked for the old PO and saw guys ,drop or throw packages that were lable ,please be careful....its a joke ,years later I work for UPS in the claims department and saw,first hand damaged packages and was rated by the number of claims you denied. It's a joke....and I worked for a wholesale electronics company, and package Dual and Panasonic plus other audio equipment. It's a joke for the guy who after spending thousands for audio equipment to now sell it and have to pay taxes on it....when he orginally paid taxes on it when he bought the stuff....Please.....

I have been scrambling to find some documentation of the price I paid for my equipment purchased on Agon as I was planning to sell some of my gear.One in question that I would like to sell was purchased just before 2012 in late 2011.Agon told me they delete everything before 2012 and cannot retrieve it.Anyone with the same problem? Another question I have is would a Agon receipt from Agon Deshboard be sufficient for the IRS?