Tanooki Posted March 28, 2021 Share Posted March 28, 2021 10 hours ago, Blazing Lazers said: My thoughts and concerns are the same. Suppose I were to continue trying to sell on Ebay- how do I account for the sales and how much information am I going to have to store or try to remember? Half the times I did sell something it was promptly spent on other stuff, which was I sold it in the first place. Or even worse, might such things as Capital Gains come into play? Price spikes in recent years have caused more than a few things I bought cheap years before to perform better than some of my intentional investments. From what I've been reading online from a variety of sources and Forum anecdotes, the lowered "stimulus" thresholds will be taking effect this Year, 2021, in some States, to include mine. That is, if I ever sell again on Ebay. I can easily see them losing a lot of sellers once those sellers get a rude and unexpected tax complication from all of this. Similarly, how does this sort of thing affect PayPal or Venmo transfers? If somebody sends me money, or if I send someone money, has a tax situation been created? What if the money is flowing between Countries? I don't even want to have to think about these sorts of things, let alone actually have to account for them. And to note, I didn't find anything political or partisan about your post. This sort of policy is bad no matter who is responsible, and will equally affect buyers and sellers from all walks of life. Giving our fellow gamers and collectors a heads-up about this is a good thing!:) Exactly and you have a larger concern there if you're talking over borders which I had forgot, and capital gains while that won't affect me I get it could really screw the pooch on someone else badly. This really needs to be explained thoroughly and cleared up as black and white as possible by the end of this year or a lot of people are going to get taken to the cleaners hard in 2023 when they get a big fat bill from the US gov't for selling their old goods. ...and thanks I was specifically not naming names or going down the whole this vs that side of things, but I guess that's still too touchy despite it was a specific call out to all the fraud and abuse hiding in a so called virus stimulus bill. Guarantee you almost no one is aware of this but they will in a year if something isn't brought up very loudly and widely to the public at large. 1 Quote Link to comment Share on other sites More sharing options...
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