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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? 
mtrot
clearthinker's avatar
clearthinker
1,582 posts
 
Madness in the USA
Are you really saying that sellers will pay tax on the gross proceeds of sale?
What about the cost price.  Crazy.
Does Walmart pay profits tax on its turnover??
Someone's got something wrong, even the US government isn't that stupid.

jasonbourne52's avatar
jasonbourne52
2,863 posts
 
States now want sales tax on 'Net purchases sent to each state. The noose is tightening!
rushfan71
293 posts
 
I go to work and earn money, the government takes a portion of my money for taxes.

I then buy something with that already taxed money and get taxed on my purchase.

Why is me selling that Item, that I paid tax on, with money I earned that was already taxed, taxable income when I sell it? Pay pal already does this now.

It's outrageous. We need to find another trust worthy method to pay each other here on Agon.
fiesta75
1,378 posts
 
How about USPS money order or cashiers check? Don't ship until they clear. Cash for items that are picked up, like Craig's List.
audioguy85's avatar
audioguy85
2,018 posts
 
They already send 1099 out. I’ve been getting them for at least 5 years or so now. Even when they put the sale money into PayPal. Also, yes it is counted as income and so you will have to have your tax guy try and bring down the numbers. A good way is to say its a business and take any and all deductions etc. It sucks. This is one reason I am just hanging on to stuff. It is not worth it now to sell on Ebay or here. Sell it locally as someone said.
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