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- - Stealth advice
( https://www.aspkin.com/forums/ebay-discussion/153095-stealth-advice.html)
| Jingling2017 | 12-20-2024 03:48 PM |
Stealth advice
Bought a high end USA eBay account.
Social security.
Bank info.
High limit of 500k.
The 1099 threshold in the USA is $5000 for 2024. How do I proceed so this person never gets a 1099?
Back in the day we had 20,000 threshold and the social never got a 1099 even when you had 19,000 in sales.
Thanks for your help as always stealth community! |
Re: Stealth advice
Just to clarify - the social security is your own? or not |
| JamesNorth101 | 12-21-2024 05:53 AM |
Re: Stealth advice
Quote:
Originally Posted by Jingling2017
(Post 1251200)
Bought a high end USA eBay account.
Social security.
Bank info.
High limit of 500k.
The 1099 threshold in the USA is $5000 for 2024. How do I proceed so this person never gets a 1099?
Back in the day we had 20,000 threshold and the social never got a 1099 even when you had 19,000 in sales.
Thanks for your help as always stealth community!
| You make an LLC then generate an EIN under a DBA as the name on the eBay account then pay tax via that EIN |
| Jingling2017 | 12-21-2024 09:50 AM |
Re: Stealth advice
Quote:
Originally Posted by rsot
(Post 1251223)
Just to clarify - the social security is your own? or not
| A stranger and someone who is living |
| Jingling2017 | 12-21-2024 09:51 AM |
Re: Stealth advice
Quote:
Originally Posted by JamesNorth101
(Post 1251226)
You make an LLC then generate an EIN under a DBA as the name on the eBay account then pay tax via that EIN
| Hey man thanks!
The problem I have been reading is that even though you add the EIN number eBay defaults to your social security and address on file. This is a real person and a real address and a stranger to me. |
| murdered_by_ebay | 12-21-2024 11:02 AM |
Re: Stealth advice
Quote:
Originally Posted by Jingling2017
(Post 1251233)
Hey man thanks!
The problem I have been reading is that even though you add the EIN number eBay defaults to your social security and address on file. This is a real person and a real address and a stranger to me.
| how many items did the account sell in the last 12 months? |
| agent006140 | 12-21-2024 11:52 AM |
Re: Stealth advice
Did you ask the seller whose SSN is he giving you?
Where did he get the SSN?
Is the person alive or dead,did he leave the country?
Does he owe IRS money?This is important,if he does,you would have to pay.
Back then when Paypal is the only payment processor on Ebay,IRS will waste no time and seize fund from your Paypal account,not sure under MP,how is it done? |
| JamesNorth101 | 12-21-2024 12:22 PM |
Re: Stealth advice
Quote:
Originally Posted by Jingling2017
(Post 1251233)
Hey man thanks!
The problem I have been reading is that even though you add the EIN number eBay defaults to your social security and address on file. This is a real person and a real address and a stranger to me.
| The tax is from my understanding still done through the EIN though |
| Jingling2017 | 12-22-2024 01:17 AM |
Re: Stealth advice
Quote:
Originally Posted by JamesNorth101
(Post 1251247)
The tax is from my understanding still done through the EIN though
| I don't believe this to be true since it isn't a corp or partnership, that is the problem. Also the risk is going to kill the account and get legal issues galore if you aren't 100% correct. |
Re: Stealth advice
Quote:
Originally Posted by agent006140
(Post 1251246)
Did you ask the seller whose SSN is he giving you?
Where did he get the SSN?
Is the person alive or dead,did he leave the country?
Does he owe IRS money?This is important,if he does,you would have to pay.
Back then when Paypal is the only payment processor on Ebay,IRS will waste no time and seize fund from your Paypal account,not sure under MP,how is it done?
| Morning chuckles :lol: easy agent - those questions were not asked evidently |
| Jingling2017 | 12-22-2024 03:43 PM |
Re: Stealth advice
Quote:
Originally Posted by agent006140
(Post 1251246)
Did you ask the seller whose SSN is he giving you?
Where did he get the SSN?
Is the person alive or dead,did he leave the country?
Does he owe IRS money?This is important,if he does,you would have to pay.
Back then when Paypal is the only payment processor on Ebay,IRS will waste no time and seize fund from your Paypal account,not sure under MP,how is it done?
| I bought it on here and was told it had a tax id, being a fictitious business was my understanding...Google proved they are alive and live at the stealth address. |
| murdered_by_ebay | 12-23-2024 10:34 AM |
Re: Stealth advice
before making any changes to personal details make sure that the account has a selling history , it would work if it is old but if it should be a recently made account selling history needs to be created first |
| Jingling2017 | 12-23-2024 12:41 PM |
Re: Stealth advice
Quote:
Originally Posted by murdered_by_ebay
(Post 1251319)
before making any changes to personal details make sure that the account has a selling history , it would work if it is old but if it should be a recently made account selling history needs to be created first
| You can't remove a social security number and add an EIN, I wouldn't even think of that as an option. Even if you could you are trusting someone a million miles away to not put you in legal trouble when a total stranger gets a 1099 for 100,000 for the year and your bank info is linked to it. |
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