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.
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?
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- 163 posts total
- 163 posts total