A good quality stereo equipment will smash your foot if you drop it. With that being said, the cost of shipping heavy and large boxes is astronomical. Secondly, the new administration wants the IRS to collect taxes on the secondary market seller, this is including PayPal. I'm not going to mention about the websites that are increasing their sellers' fees as well. As a hobbyist, I have plenty to sell, but I will avoid selling them on auction or seller website who will send me 1099-K form.
Slow used market right now?
Just curious what the state of the used market is right now. I have three components up for sale right now and have seen very little interest. I'll admit, they probably aren't the most desirable but definitely solid pieces of gear. I see speakers like Maggies, Tekton, DeVore that have been available for weeks. Seemingly fairly priced. Is it just an after the holidays down time?
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@stereo_gen you only owe taxes if you sell it for more than you purchased it for. This isn’t a new tax policy, it has been in place for likely your entire working life and it is pretty simple to understand. Pay your fair share if you have taxable income. |
Agree, it's not a new tax policy and sellers that operate a shop and sell often will know this. But as a hobbyist that might sell item one a month or so it is now being enforce upon. I have been selling on the other website and here for over 20 years and this year is the first time that I'm being tracked on things I've sold as a hobbyist and now I am receiving 1099 form. What's next - Craiglist, offerup and garage sale. With that being said - I may or may not need to pay taxes on things that I sell, but I know things have changed and more money being pulled out of my pocket on items that I have already paid taxes on. |
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