Paypal Changes for 2022

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?

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I do not like paypal. They have no loyalty to their customers. If they made any changes for 2022 it is not for your benefit. I don't know how they tax items twice. Once when the item was sold brand new and again when is sold used, it sounds illegal and unethical.

This is a great thread and thank you as I got a - '' Notice '' from Pay-Pal that I had to give them my SS# and also my individual tax status. I thought it was actually a SCAM - which in all ways Pay-Pal is. They are corporate thives…...I have been on Audiogon for almost 22 years and between the Pay-Pal fees an Audiogon's fees along with shipping it is making it nearly impossible to do business here or on line for any stereo purchases. Politics aside which there are some good points here but usual we have the '' ideas'' that everything is a conspiracy and also let's keep giving more money to the people who don't want to work - not the ones who who can't work - but the ones who don't want to work …...so far left and far right. We need to get in the middle and work together otherwise we will be leaning either Chinese or Russian and no offense to the people of that country but more as usual to the leaders. We need to get some B****S here in the US an stop in the fighting between us. The government is looking for more revenue and taxing transactions on the Internet is where they are going. But to ALL of the individuals who noted that '' if ''we do report the above $600 transactions to the IRS - then I too want to be able to write off the depreciation as well. Fair is fair IRS.....but I is unnerving when the Bezeo's . Gates and Musks along with what 55 other US corporations do NOT pay the same proportion of taxes that I do . Now that is wrong but nobody that is Republican, Democrat or Independent or voted for Alice Cooper wants to take that on make it fair …...that's what we should all be ticked at . I understand that I have to pay taxes but let me just pay my fare share. This is still the best country in the world......but we need to look over our shoulders. I have not responded to Pay-Pal and I probably won't. Stay safe everyone.

To those of you who understand basis in property, I say (with an ode to AC/DC) I SALUTE YOU !!!

Example: I buy an amplifier for $5,000.00 and I pay 6% sales tax, My basis in the amp is $5,300.00. I sell it 2 years later for $3,300.00--I am selling it for a loss. The buyer has to pay tax depending on his/her jurisdiction, but I have no tax liability.

The 1099-K you may receive is only an indicia of what you received/transacted, not a precursor that automatically invokes a taxable event.

Technically, this has always been the law, it’s just the government lagged behind in updating existing laws to reflect online commerce. So I bid you all adieu, into the wild blue........