[Boatanchors] eBay/PayPal

[manualman at juno.com]

I believe currently, if you receive $20000 or more in sales in one year,
it gets reported and you get a 1099-R  form. Depending on what you
originally paid for an item versus what you sold it for (less everyone's
commissions) adjustments probably can be made when IRS filing in that
year.

I haven't received any e-mail recently from ebay about this proposed
action. In order to deposit in your typical bank account, why didn't they
asked for bank routing number and account number?

Pete, wa2cwa


On Mon, 1 Feb 2021 23:21:13 +0000 Rich Arland <k7sz at live.com> writes:
> Has anyone recently checked the email from eBay? If not, methinks 
> eBay has rolled over for the IRS. Apparently (as I read the mssg) 
> after 2-28-2021 you will be paid directly to your bank account 
> rather than PayPal. In order to do this, you have to "update" your 
> eBay account info including providing your SSAN and DoB. Whatcha 
> wanna bet that that info will be sent directly to the IRS after you 
> sell a piece of gear on eBay? Which means you will have to declare 
> this "income" to the IRS when you file each year.
> 
> Comments?.
> 
> Vy 73
> ??
> Rich  K7SZ.