Quick Question (Paypal limited via Tax)

[kris3841]

Ok, so my EB account was near the 200 item mark (way below the 20k mark), I was at around 185 and I received a notice from Paypal saying my account had been limited til I provided tax info. I logged into Paypal, looks pretty normal and I was still able to make withdrawals. Anyways, I was curious if I sit on this account til January 1st will the limits reset and everything go back to normal? Currently EB won't let me take payments through it. I am not going to add any more items to the 185 number. I want to make sure I don't breach to 200 mark that was supposedly the one to avoid.
Any information would help a lot... thanks!

[ebaystealth1974]

If you're limited until you provide tax info, then you CAN'T sell more than the 185 you've already sold... so no worries there! lol

Regarding 200, that COMBINED with $20k in sales is the threshold for tax reporting to the IRS. Not one or the other... BOTH. But you don't have to worry about that since you won't be adding the info.

I've read that the account resets sometimes around late Jan to early Feb.

[phaz0rz]

It resets on 1/1/18.

The little red notification in the top right corner of your account won't go away on the 1st, but you will be able to start receiving payments again on that date. Speaking from experience. In the coming years this loophole will be fixed and it will no longer be an "annual" count but a "lifetime" count like UK has started doing.

eBay is right about you not having to worry. You're tax limited so you can't receive payments.

@ebay - you need a new forum name. It sounds like I'm quoting eBay when I try to agree with you on something, lol.

[ebaystealth1974]

My word is the GOSPEL!

[kris3841]

hey Phaz0rz, thanks for the tip and heads up. How does the "lifetime count" work exactly? Thanks ebaystealth1974 as well!

[ebaystealth1974]

Well, just think about what that word means. And how it differs from "annual/per year".

[iceman420]

Originally Posted by ebaystealth1974

Well, just think about what that word means. And how it differs from "annual/per year".

lol --- some people...