Originally Posted by BDW
Originally Posted by A39Coronet
Plenty of folks on this website live and die by "friends and family" cause the $0.49 + 2. 9% fee is too much to bare. I've offered to pay the fee and still get turned away because a $100 part sale will break the bank come tax season for them.


Once you hit $600 the feds hit you with 25% tax bill.
Most people are selling off used stuff at a loss, so why should they pay another 25% for that luxury?


Because the 1099 process allows you to claim the loss based on fair market value of when you acquired it vs sale price. So you're able to claim the purchase price without receipt and use that to offset any tax.

Last edited by A39Coronet; 08/31/23 08:20 PM.
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