Question about taxes for stealth account

[Gretch]

Hi, I hope I can find answer here.

I was reading that that eBay reports sales to the IRS once you reach 20,000.
Do they ask for all my info - ID/SSN, etc? If so do they lock the account until it's provided?

I'm sorry if this has been asked before, I searched the forum for a bit and found nothing.

[SaiJin]

Pretty much yes, they ask all that.

[rsot]

Originally Posted by Gretch

Hi, I hope I can find answer here.

I was reading that that eBay reports sales to the IRS once you reach 20,000.
Do they ask for all my info - ID/SSN, etc? If so do they lock the account until it's provided?

I'm sorry if this has been asked before, I searched the forum for a bit and found nothing.

Welcome to the forum - all the best as you master stealth

YouTube (Short URL)

YouTube (Short URL)

SaiJin is right on

[IGNAS]

Yep,

if you wanna avoid it to some extent and spread risk - better spread your sales throughout multiple accounts.

[Gretch]

Originally Posted by agent006140

it is 200 transactions AND $20K

I did not know that. Very good to know, thank you.

[Gretch]

Originally Posted by rsot

Welcome to the forum - all the best as you master stealth

http://youtu.be/TLcuTISVs3s

SaiJin is right on

Thank you Yes time to study up.

Wish I found this community sooner. Plain tired of fearing eBay as a legit seller.

[Kajunrook]

If you dont have another acct just sign up for another paypal and move some of your items to that one, but you have to treat Paypal like what it is a brand new acct and go slowly until PP trusts you. Been doing it for several years now and it works, once I get to like $13K I swap PPs.