No one is going to do a deposit.If I can't meet a private party in person, would some type of deposit system be best to reduce risk? How much of a deposit is acceptable?
Yup.this is the wrong section for this. Let me know if you want it moved. Me personally-I will no longer ship. Last 2 deals I did selling something...a vh4 was damaged and I had it insured. UPS refused to do a claim. Last one was fed ex destroying a Laney 4x12 on a trade. told the dude to keep the remains and salvage the v30's plus his item I was trading for. Pretty big hit for me.
Got to watch FAGBOOK. You'll get offers from overseas....and have to play that game.OK. The guitar is a Carvin and I thought I'd put it out to the Carvin/Kiesel Facebook group first. It might be easier to go through Ebay/Reverb to reduce risk.
So how does FB send you a 1099 on a local cash deal?If you sell through Facebook you’re going to get a 1099k to claim the profits for taxable income. Same goes for reverb or eBay.
If you’re selling to a private party and use goods and services of PayPal, you’ll still get a 1099k from PayPal.
If you use zelle, cash, or PayPal friends and family, no 1099k is generated since it’s just like cash. Just note those are not intended for regular sole proprietor business use. If you use it repeatedly for gear sales you do so at your own risk. Still plan on putting them on your taxes. You don’t want to fuck with the IRS.
Also depending on the sales you make, some states have taxable income requirements as well even if you sell online.
Selling privately has its benefits but as always cash is king and it’s best to meet in a public setting when selling for your own protection.
Don’t mark it sold through fb whatever you do.So how does FB send you a 1099 on a local cash deal?
Even so, how would they ever know how much you actually sold it for to accurately give you a 1099?Don’t mark it sold through fb whatever you do.
Because you list the price. They’re dumb enough to send you a 1099 for whatever you mark as sold. Take it from someone who has received a 1099 from them for gifts which is completely wrong, they don’t give a damn about accuracy. They’re fucking Facebook.Even so, how would they ever know how much you actually sold it for to accurately give you a 1099?