Stealth advice

[Jingling2017]

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!

[rsot]

Just to clarify - the social security is your own? or not

[JamesNorth101]

Originally Posted by Jingling2017

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]

Originally Posted by rsot

Just to clarify - the social security is your own? or not

A stranger and someone who is living

[Jingling2017]

Originally Posted by JamesNorth101

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]

Originally Posted by Jingling2017

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]

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]

Originally Posted by Jingling2017

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]

Originally Posted by JamesNorth101

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.

[rsot]

Originally Posted by agent006140

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 easy agent - those questions were not asked evidently

[Jingling2017]

Originally Posted by agent006140

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]

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]

Originally Posted by murdered_by_ebay

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.