NEW Tax rules for Ebay sellers...reports u to IRS! 2011

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NEW Tax rules for Ebay sellers...reports u to IRS! 2011
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Starting in 2011 Ebay now it reports it sellers and many will get a rude awaking at tax time in 2012

if you sell over 200 things a year or make more then $20k

if you sell over 200 seperate items you will be reported

if you sell over $20k you will be reported

if you sell just ten items that combined are worth over $20k you will be reported

if you sell 201 items for $250 dollars you will be reported

sell less then 16 items a month and your fine, sell less then $20k and your fine

sell over $21k and you will have to file with the IRS as ebay will already have turned that info over to them at the first of the year

Some have claimed ebay will have paypal turn you in after $10k but that is unconfirmed and just adds confusion but if true could effect more sellers

ways around it? Im sure just like anything else, just takes a good imagination to creep around it

I have now seen paypal stopping buyers and sellers payments so they call in to get your s.s number under the vail of a red flag if your unverified as they are pushing all sellers to do..they are doing this to buyers also in case they start selling later and go over the limit they have the proper info already

>If unsure what your reading is true to belive then google ( ebay to report sellers to IRS in 2011) and you will see

i have posted this as many still do not know and sould so be careful how much you sell or how much you make as the ride from here selling on ebay gets a little more bummpy!

If this info was helpful to you  please let everyone know by signing my guestbook on my profile..thx

 

 

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