Buying from a new member

[cmatera]

Even if they ever implement the $600 rule, all it takes is a bit of record keeping. Whenever I buy anything over $600, I make 2 copies of the receipt. One for my charge bill and one for my $600+ folder. I do the same when I sell. When I sell something, it is ALWAYS at a loss. Whoever said guns and tools were an investment lied. I have bought and sold 100-150 air guns and powder burners over the years, and lost money on every one. Even if reported, there is only a taxable event if you make money. If you can prove you did not, they get nothing. Ask them if you can write off the loss though, sorry not. Heads I win, tails you lose.

 

[rangur1]

The $600 "tax thing" is incorrect, The IRS has never implemented that regulation. It has been on hold for a few years.

What you need to know about next year's $600 reporting rule from the IRS

The new "$600 rule" involves payments received through third-party transaction networks like Venmo and PayPal.

www.cnbc.com

Just my 2 scents
Edward

Wrong my friend, look up PayPal tax implications, it takes effect this year. I did look it up before commenting.

 

[JimBentley]

I have already been asked to supply a tax ID number to PayPal. If you don't, they will withhold 24% of payments after you reach the $600 threshold.
No days $600 is a couple of tanks of gas and a trip to the grocery store, it is totally ridiculous!

 

[Chief Ten-Beers]

Use 2 smaller PO Money orders.

 

[uladz]

View attachment 468903here is one of the excuse

That is scam 101. I think they have some sort of scammer's playbook and copy-pasting replies from there. I got practically the same message some time ago, stopped all communications to that person, and reported the account to admins immediately.

 

[TN_Yankee]

I have already been asked to supply a tax ID number to PayPal. If you don't, they will withhold 24% of payments after you reach the $600 threshold.

This is where I’m at with PP, too. I’m not letting them auto withhold anything, and I’m certainly not giving them my social security number to report to the IRS.

 

[uladz]

This is where I’m at with PP, too. I’m not letting them auto withhold anything, and I’m certainly not giving them my social security number to report to the IRS.

I got my account locked and was asked to provide SS and copy of DL. I called them and there was no way around. Customer support was utterly useless, and they wouldn't connect me to anyone who would have any resources to resolve this situation. In any case, I wasn't hit with 24% tax, and I wasn't reported to IRS (yet). But yes, if there were another secure and discrete payment platform out there, I would definitely jumpship no questions asked. Is your PP still operational, or did they lock it out too for not providing SS?

 

[TN_Yankee]

Still operational, as I haven’t gotten to the $600 limit, and I don’t plan to.

 

[Chief Ten-Beers]

Is "Give Send Go" allowed to be used there?

 

[rangur1]

I’ll buy with PayPal- for now, when another platform emerges, and are better, I’ll jump over to them.