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Re: Venmo who has it. [Re: Jer] #3097444
11/27/22 05:04 AM
11/27/22 05:04 AM
Joined: Jan 2003
Posts: 27,444
So Cal
autoxcuda Offline
Too Many Posts
autoxcuda  Offline
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Joined: Jan 2003
Posts: 27,444
So Cal
Originally Posted by Jer
Zelle, while supported by most banks, seems to be the payment of choice by scammers. Zelle apparently has a 'we believe the buyer despite your evidence to the contrary as a seller' policy. As for payments at a swap meet... I used a Square app (remember them?) and sold a LOT more stuff simply because many chose to use a card over cash.


Good info and feedback.

I had heard there was no way to refute a transaction with Zelle..

The square app uses a credit card. Could someone go back and say the item was not what they believed, broken, never received ??

Re: Venmo who has it. [Re: autoxcuda] #3097595
11/27/22 05:51 PM
11/27/22 05:51 PM
Joined: Dec 2005
Posts: 11,408
Fulton County, PA
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CMcAllister Offline
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How about "whoever doesn't send me a 1099K at the end of the year", if I'm selling.


If the results don't match the theory, change the theory.
Re: Venmo who has it. [Re: autoxcuda] #3097658
11/27/22 10:50 PM
11/27/22 10:50 PM
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Bowling Green, KY
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cudaboy Offline
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Bowling Green, KY
Originally Posted by autoxcuda


I had heard there was no way to refute a transaction with Zelle..


There’s not, according to Zelle’s website.

Dennis

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Last edited by cudaboy; 11/27/22 10:51 PM.
Re: Venmo who has it. [Re: CMcAllister] #3097744
11/28/22 11:57 AM
11/28/22 11:57 AM
Joined: Sep 2003
Posts: 1,236
Fairview Tennessee
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SV_MOPARS Offline
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Fairview Tennessee
Originally Posted by CMcAllister
How about "whoever doesn't send me a 1099K at the end of the year", if I'm selling.


Or ask for your ssn or tax id number.

Re: Venmo who has it. [Re: SV_MOPARS] #3097771
11/28/22 01:18 PM
11/28/22 01:18 PM
Joined: Feb 2005
Posts: 20,116
PA.
pittsburghracer Offline OP
"Little"John
pittsburghracer  Offline OP
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Posts: 20,116
PA.


There are some sellers (several on this site alone by the prices they charge) that do in fact make a profit. But many many of us are moving parts we bought and used and are selling at a loss. Example was the gearset I raised the question about. I paid 750.00-800.00 for it and sold it for 550.00 minus 50.00 shipping. So uncle Sam looks at that as I made 550.00 profit. My tax forms are already eight pages for my yearly taxes. This will probable add three more pages.


1970 Duster
Edelbrock headed 408
5.984@112.52
422 Indy headed small block
5.982@112.56 mph
9.42@138.27

Livin and lovin life one day at a time




Re: Venmo who has it. [Re: pittsburghracer] #3097799
11/28/22 02:37 PM
11/28/22 02:37 PM
Joined: Jan 2003
Posts: 15,500
Norwich CT USA
moparts Offline
I Live Here
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Posts: 15,500
Norwich CT USA
Originally Posted by pittsburghracer


There are some sellers (several on this site alone by the prices they charge) that do in fact make a profit. But many many of us are moving parts we bought and used and are selling at a loss. Example was the gearset I raised the question about. I paid 750.00-800.00 for it and sold it for 550.00 minus 50.00 shipping. So uncle Sam looks at that as I made 550.00 profit. My tax forms are already eight pages for my yearly taxes. This will probable add three more pages.


Agree , I'm selling all my spare used and some new parts off this last year , nice having the extra money
BUT I haven't made a profit on any of it compaired to what I paid for it , So I loss coming up on my taxes


Tom ,

2011 Ram 3500 C&C Diesel
2009 Challenger R/T
1971 Challenger Conv. 511/4 speed
1970 Challenger R/T 503/727


Re: Venmo who has it. [Re: moparts] #3097950
11/28/22 10:42 PM
11/28/22 10:42 PM
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Posts: 15,193
Omaha Ne
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TJP Offline
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Omaha Ne
Originally Posted by moparts
Originally Posted by pittsburghracer


There are some sellers (several on this site alone by the prices they charge) that do in fact make a profit. But many many of us are moving parts we bought and used and are selling at a loss. Example was the gearset I raised the question about. I paid 750.00-800.00 for it and sold it for 550.00 minus 50.00 shipping. So uncle Sam looks at that as I made 550.00 profit. My tax forms are already eight pages for my yearly taxes. This will probable add three more pages.


Agree , I'm selling all my spare used and some new parts off this last year , nice having the extra money
BUT I haven't made a profit on any of it compaired to what I paid for it , So I loss coming up on my taxes


I'm assuming the "loss" was supposed to be "lose" ?

While on the subject, I was wondering IF one were to use different Third party money handlers keeping them all under the MAGIC 599.99 threshold, Would that not prevent a 1099 from being issued ? shruggy whistling A PITA for sure BUT whistling

Re: Venmo who has it. [Re: moparts] #3097984
11/29/22 02:04 AM
11/29/22 02:04 AM
Joined: Feb 2015
Posts: 2,065
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crackedback Offline
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CA
Originally Posted by moparts
Originally Posted by pittsburghracer


There are some sellers (several on this site alone by the prices they charge) that do in fact make a profit. But many many of us are moving parts we bought and used and are selling at a loss. Example was the gearset I raised the question about. I paid 750.00-800.00 for it and sold it for 550.00 minus 50.00 shipping. So uncle Sam looks at that as I made 550.00 profit. My tax forms are already eight pages for my yearly taxes. This will probable add three more pages.


Agree , I'm selling all my spare used and some new parts off this last year , nice having the extra money
BUT I haven't made a profit on any of it compaired to what I paid for it , So I loss coming up on my taxes


If you are going to pay the taxes on the gross amount on the 1099... don't complain and get to work minimizing the alleged income. It's NOT that hard...

Paying the tax on the gross amount is EXACTLY what the government wants you to do. They expect you to be lazy.

Maybe I'm misunderstanding what you are putting out there.

Last edited by crackedback; 11/29/22 02:06 AM.
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