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[Updated Rule Change] PayPal G&S Recommended

I actually agree with adding the 32% (or whatever bracket you are in) on the price broken out. Basically gives the buyer the option. FF back it out. If not hit safe and you know the price.

I think there is confusion on the amount you pay. If I sell a set for 1k I will be taxed the 32% ie 320k on selling that pair because it gets added to my income. Also if I sell a pair for $500 i still pay 32% $160k (once I’m passed the 600k threshold). It’s not banking that money unless someone pays that price f&f or I can prove I sold it for a loss.

IMO it would be best for forum practice to lay it out like this to give buyer the option
 
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The tax laws are the conversation. If the dollar amount and sale counts hadn’t changed in order to get a 1099, I don’t feel this would even be a discussion.

But, unless people have kept immaculate records on their past purchases, I think almost every seller on this forum is currently or will be come next tax season, impacted by this policy change. Casual sellers will most likely stop selling once they realize the impact, whether it’s now or after Jan 31st 2023…

All I know is other websites allow wires, FF, bank checks, etc… and seem to make it work.
Bingo
 
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