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Old 04-29-2014
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Default lot of money put into my account from ebay sales. How should I proceed

Hi all,
I am receiving a few hundred a day for the past week from ebay sales and I have had this paypal account for about 6 months. What should I be cautious about, as it pertains to paypal being alerted to this? How should I proceed to maintain this account, so I am not limited? What is your suggestions for what I should do? How often can/should I withdraw from this paypal account? I have a good thing going and this is a stealth account for which I do not have a SS# for.
Thanks for any help

Last edited by mad555; 04-29-2014 at 11:04 PM.
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Old 04-30-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

If you're receiving hundreds daily then withdraw daily.

Always leave some money in paypal.

If you've buikt the account up receving money everyday and slowly built up to what you receice now, you should just keep what your doing.

What may raise a flag is if your acxount went from dormant to receiving a few hundred a day. Then they are more inclined to ask questions.
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Old 04-30-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

What may rise other flags... is withdrawing large amount of money at once.

For your money safety, don't touch anything before getting in touch with someone very experienced in here... as far as I understood you have quite a lot of money sitting on a time-bomb.
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Default Re: lot of money put into my account from ebay sales. How should I proceed

200 PayPal Transactions will be the death nail when you get to close for US accounts(Actually between 195-198). Time to start making more stealth accounts.
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Old 04-30-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

Slowly withdraw to bank account - space it out over few days each time - always leave 3-4x the average eb sale in the account to keep pp happy (few ideas to consider)
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Default Re: lot of money put into my account from ebay sales. How should I proceed

there are some Suspicious activity to avoid, like withdraw the money just after that you receive it, don't forget that this is programmed bot who identify certain behavior.
as rsot said just do it slowly and keep paypal happy

and wait for other answers maybe there is someone experienced with the same situation as you.
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Default Re: lot of money put into my account from ebay sales. How should I proceed

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Originally Posted by vogeltron View Post
200 PayPal Transactions will be the death nail when you get to close for US accounts(Actually between 195-198). Time to start making more stealth accounts.
Thanks everyone for the feedback. Can I open a new paypal and attach it to ebay account once I reach the 200 limit? I also read about calling paypal and letting them know you will be receiving a certain amount each day/week. Has anyone heard about that?
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Old 04-30-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

If you are talking about stealth account in here, I guess calling Paypal is not a good idea, they could start reviewing your account and ask you for ID and stuff...
Ebay and Paypal accoung shall go in pair. Open more stealth account and spread sales.
Do not stack too much money on one single paypal... this is looking for troubles.
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Default Re: lot of money put into my account from ebay sales. How should I proceed

Quote:
Originally Posted by vogeltron View Post
200 PayPal Transactions will be the death nail when you get to close for US accounts(Actually between 195-198). Time to start making more stealth accounts.
200 paypal transactions for one month or year??
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Default Re: lot of money put into my account from ebay sales. How should I proceed

The rule is 200/$20000 For The Year

If you pass both the transaction and the dollar amount than it will be reported to the IRS

However , PayPal will ask you for a tax ID well before you reach the limits, in my experience i was asked for a tax ID between $4500-$5500 dollars

Now the account is not finished, you just need to have a tax ID ready for your business

The reason why it's recommended to have multiple accounts is that you spread sales over many accounts where you are never asked for further identification

Even though you can normally provide an EIN, your account is still at risk of being asked for a SS# , invoices , receipts, ID, etc...

The goal is to stay under the radar where you are never asked for any further identification
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Default Re: lot of money put into my account from ebay sales. How should I proceed

Thanks again for the feedback. I have a great ebay account which allows for over 200 items a month, and I also am big into Amazon Stealth. I would like to use just this ebay account without having to track too many other accounts. I just setup my own payment processor so I do not have to use paypal, but what do I have to look out for now, as it pertains, ebay reviews, and such?
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Old 04-30-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

Quote:
Originally Posted by mad555 View Post
Thanks everyone for the feedback. Can I open a new paypal and attach it to ebay account once I reach the 200 limit? I also read about calling paypal and letting them know you will be receiving a certain amount each day/week. Has anyone heard about that?
No - it will be linked to old pp and you MAY have more problems with limitations again.

I cant recommend that you call PP UNLESS...you can provide ID and info if they ask
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Default Re: lot of money put into my account from ebay sales. How should I proceed

Quote:
Originally Posted by Dmshark25 View Post
The rule is 200/$20000 For The Year

If you pass both the transaction and the dollar amount than it will be reported to the IRS

However , PayPal will ask you for a tax ID well before you reach the limits, in my experience i was asked for a tax ID between $4500-$5500 dollars

Now the account is not finished, you just need to have a tax ID ready for your business

The reason why it's recommended to have multiple accounts is that you spread sales over many accounts where you are never asked for further identification

Even though you can normally provide an EIN, your account is still at risk of being asked for a SS# , invoices , receipts, ID, etc...

The goal is to stay under the radar where you are never asked for any further identification
It is either or now. Once you get close to 200 payments received the PayPal account will be locked from receiving payments if no Tax ID is given.

Last year was the first year this went into full effect. Anyone who got a 1099k from PayPal the last few years will notice for Tax year 11' and 12' it just had a breakdown of sales by month and a total for the year. For 13' it also included the number of payments received for the first time.
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Old 04-30-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

Quote:
Originally Posted by vogeltron View Post
200 PayPal Transactions will be the death nail when you get to close for US accounts(Actually between 195-198). Time to start making more stealth accounts.
To add to his comment, I just got the PP email asking for SSN, and I was at less than 150 transactions. This was just last weekend.
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Default Re: lot of money put into my account from ebay sales. How should I proceed

I just check i did over 210 transactions and have not been ask for my ssn yet
but my paypal is over 2 years old
i recently started selling on it
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Default Re: lot of money put into my account from ebay sales. How should I proceed

The IRS rule for reporting is you need to meet both 200/$20K and you will receive a 1099

That being said, paypal will require your tax ID far before you meet those requirements, and as soon as your sales are on pace to go over they will require a tax ID, and you will need to provide that or they will limit your account

So if it's January and your sales for the month are $3000 paypal will be asking for a tax ID even though it's the first month of the year they will take that figure and project it over 12 months which would estimate to $36K which is putting you over the dollar amount for the year


So to avoid possibly being asked for a SS# specifically rather than a EIN , it's always a good idea to make enough accounts so that your sales are never on pace to go over the 200/20K
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Old 04-30-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

Quote:
Originally Posted by bjammin View Post
To add to his comment, I just got the PP email asking for SSN, and I was at less than 150 transactions. This was just last weekend.
less than 150? what was the dollar amount?
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Old 04-30-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

Damn, that would be like keeping it under 16 sales a month to not get the SSN email. I sell $10 items but many a month, really hard to make any scratch w/o going over that limit.
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Old 05-01-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

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Originally Posted by inkidiot View Post
less than 150? what was the dollar amount?
Having them ask for the SSN is one thing. Having them limit you from receiving funds and closing the account is another. I did go to far and get this limitation on one PayPal last year at 197 sales.

I would highly advise considering shutting down the account at like 190 payments received and make sure you spread them out as much as possible over the year.
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Old 05-01-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

First of all calm down, relax. I have been withdrawing $200 almost every day and sometimes twice per day without trouble for over a year now. I don't leave any more funds in pp than I am prepared to loose. Just enough for a few returns. I really don't think you will encounter any problems as long as there are no unhappy buyers which to me is always the highest concern. Best of luck.
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Old 05-01-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

Quote:
Originally Posted by joesshooze View Post
First of all calm down, relax. I have been withdrawing $200 almost every day and sometimes twice per day without trouble for over a year now. I don't leave any more funds in pp than I am prepared to loose. Just enough for a few returns. I really don't think you will encounter any problems as long as there are no unhappy buyers which to me is always the highest concern. Best of luck.
That is what I was thinking. Don't leave more in paypal than you are willing to lose.
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Old 05-01-2014
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Default Re: lot of money put into my account from ebay sales. How should I proceed

Quote:
Originally Posted by inkidiot View Post
less than 150? what was the dollar amount?
PP can send the request at ANY time if they feel the PROJECTED RATE will hit 200/20k...
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