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Old 07-12-2014
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Default High value items - Tax Question

So I have three items that I want to sell however I am afraid I will run into tax issues.

The first item is a 10k item
The second and third are both 25k items

About a year ago I bought a car through eBay and it let me make a $5k deposit and then pay the remaining 95k by bank transfer (arranged by the seller). My question is is that format only for auto listing or can I do that with my other high value items?

Additionally, is it ok for me to sell the 10k item in a standard format (since it's under 20k) or will that earn me a lovely 1099 form right away?

Thanks!

Last edited by igloo2101; 07-12-2014 at 05:58 PM.
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Old 07-12-2014
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Default Re: High value items - Tax Question

Yea, that won't go smoothly without an SSN. Even then, never in my life would I accept such huge amounts through PP. That $10K will be immediately frozen no matter what happens until they manually review it.

You clearly have money. Be smart and look for other options here outside of PP.
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Old 07-12-2014
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Default Re: High value items - Tax Question

I don't have a clue about selling cars and stuff but if you sell anything on ebay and it goes over $20k...yes you will have to pay taxes....Do you have an account that can even sell that high of amount?
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Default Re: High value items - Tax Question

Doesn't eBay have a form of escrow for at least cars and real estate?

I would seriously recommend craigslist first. Free and no one reporting anything. Worth a try!
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Old 07-12-2014
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Default Re: High value items - Tax Question

Define the account you are using to sell these items.

Your monetary amounts will more than likely mean paypal will seek tax info.

You should be prepared for this in any case.
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Old 07-12-2014
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Default Re: High value items - Tax Question

OP seems to only have a buyer's account with no SSN attached.

6 posts here and doesn't seem to understand much about the limits. I can't imagine them having an account that can survive a $10K payment if they don't understand such critical elements.
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Old 07-13-2014
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Default Re: High value items - Tax Question

"OP seems to only have a buyer's account with no SSN attached."

This is a sellers account (one of 15+ stealth accounts I operate).
I understand how to also successfully buy things with my stealth account (Virtual Address Service). I dont have a SSN linked, but I do have an EIN I can burn if necessary.


"6 posts here and doesn't seem to understand much about the limits"

Hi I have been a forum member for a couple years, I have bought many accounts from Sandy, I understand very well how the process works. Just because I'm not posting all of the time doesn't make me uninformed.

"Define the account you are using to sell these items." "Do you have an account that can even sell that high of amount?"

Hi, I've been very fortunate with this stealth account, the limits on this are at 300/30,000, so it will be possible for me to sell these.


"Be smart and look for other options here outside of PP."

I agree with you, I don't want to pay ebay 10% on 25k. What I want to do is just accept a $500 deposit or so and pay the rest via bank wire.

Like I said earlier, I bought a car that cost 100k before through ebay, and I paid 5k via ebay, and the other 95k via bank transfer. I just want to know if you guys know how to structure a listing in that manner.

Thanks for all of your help!
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Old 07-13-2014
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Default Re: High value items - Tax Question

I see, my apologies. I thought you were trying to run it all through PP because you asked if your account could survive a $10K payment all at once.
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Old 07-13-2014
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Default Re: High value items - Tax Question

Just read it all through. Never mind. You have your wits about you.

I read 10K and ebay and its automatically
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Last edited by BigCJ; 07-13-2014 at 09:27 PM.
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