Mark Skid
Well-known member
Any idea why eBay is asking for my SSN to list items for sale? I don't recall doing this for Reverb. I haven't sold anything there for a while, so maybe that's changed as well.
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maddnotez
Banned
Well-known member
RIP.
You sure that's actually ebay?
Sounds like a well crafted scam. Definitely no need to provide a SSN for a transaction online.
Would not provide.
You sure that's actually ebay?
Sounds like a well crafted scam. Definitely no need to provide a SSN for a transaction online.
Would not provide.
glpg80
Well-known member
For tax purposes, they’ll submit a (1099-C?) and you’ll be required to submit one as well. If you don’t and get audited, or there’s a mismatch, you could be facing a large fine/jail time. To keep from paying taxes on anything you make a profit on, you’ll have to write a schedule C business write off for the gear you’ve sold. They’re basically treating individuals as businesses from this point forward to collect money on used items. There will also be state taxes that have to be paid for certain buyers on top of the percentage eBay takes off the top.
I don’t sell on reverb or eBay anymore. I sell locally or on the forums. It’s just not worth it. This is all because the platforms online make a profit from what we sell, which in 2018 there was a law change that went into effect that allows the government (federal and in some areas state as well) to get tax money from for-profit platforms.
I have a right to sell anywhere I please where all non-business private sales will not have taxes involved.
I don’t sell on reverb or eBay anymore. I sell locally or on the forums. It’s just not worth it. This is all because the platforms online make a profit from what we sell, which in 2018 there was a law change that went into effect that allows the government (federal and in some areas state as well) to get tax money from for-profit platforms.
I have a right to sell anywhere I please where all non-business private sales will not have taxes involved.
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War_in_D
Well-known member
I don't know about SS#, but I did get an email from them the other day saying that I needed up update my seller information (I.E. signed up for their managed payments) by May 21st, or my selling priveledges would be suspended. I let it expire. I haven't sold anything on Ebay in over a year anyway, too many scammers out there and IMHO the internet tax thing has really impacted the online business for used music gear.
Mark Skid
Well-known member
I responded to a notice in my eBay messaging.
Mark Skid
Well-known member
I'm not giving them my SSN. I guess it's CL or nothing.
Beyond Black
Well-known member
Don’t do it, it’s a scam. I had the same message, and it was BS.I responded to a notice in my eBay messaging.
War_in_D
Well-known member
I've had mixed luck with CL, but it's probably because I'm in a pretty rural area. Not much demand for good gear, everyone is looking for "pawn shop" type stuff. I've succesfully sold/shipped a few things through CL though. But only after a very thorough vetting process that includes phone calls, and they basically send a USPS money order and wait for me to ship until I can cash it, or I don't deal with them. If they don't agree to those terms, I walk..
T
thedeadzone
Active member
I think eBay and maybe Paypal require this under certain circumstances, for 1099 reporting. Not sure about Reverb. I don't know the criteria as to why some people are required and others aren't, but I think it stems from IRS requirements. It doesn't really bother me; I report my gig revenue and expenses, including gear sales and purchases, and it shaves a decent chunk off my tax bill. I figure if the IRS wants me to report all my income, then I'm entitled to report expenses/losses as well. I end up paying lower taxes as a result, and I don't have to worry about criminal tax liability from hiding revenue.
maddnotez
Banned
Well-known member
Had no idea about the new tax laws. Maybe it's legit? Not sure but I still would not provide. Yeah its nice to have a larger platform to sell on but damn.
Mark Skid
Well-known member
I just sold a mint 1987 Marshall SJ 4x12 cabinet on CL. Vetted the buyer well, prior to letting him come by to get it. I ran that cabinet for months at $450.00 with no interested parties. Dropped it to $400.00 and it sold in three days. If I were living in Tampa, I could have gotten more for it.
War_in_D
Well-known member
I'm not too far from Branson, Mo. which is a huge music town (lot's of music shows, musicians, etc.), so you'd think that the market around here would be better than it is but the sad fact is that most peeps around these parts don't have the disposable income to spend.
T
thedeadzone
Active member
My area is similar. Just a small market. Between the various fees and having to deal with flakey buyers though, sometimes it's worth it to just bite my lip and sell it local.
I'm hoping to be living in Phoenix though before the end of the year. I'm hoping that helps.
War_in_D
Well-known member
I have a couple of buddies here in the town I live in that own a music store. I'll usually try CL and Facebook Marketplace first on gear that I'm trying to sell/trade, but if I don't get any interest in either of those places or things get too weird (when they start trying to trade you goats and stuff.. I pull the plug) then most of it goes into their store on consignment. Better exposure there, and if I'm going to make anyone money, I'd rather it be them. They are good people.
Wizard of Ozz
Well-known member
Ebay now requires your SSN to sell there. Reverb too. Both also require direct access to your bank account to make credits/debits.
It's not a scam.
Don't like the rules, don't play. All online marketplaces are going this route. You are also now taxed on all purchases to most states as well. Ebay will also be sending out 1099 forms for all sales made there starting next year 2022 as well.
It's not a scam.
Don't like the rules, don't play. All online marketplaces are going this route. You are also now taxed on all purchases to most states as well. Ebay will also be sending out 1099 forms for all sales made there starting next year 2022 as well.
maddnotez
Banned
Well-known member
I lived in Springfield for a while and was actually surprised and impressed with their music scene. I am into metal and hardcore and moving there from NY I would laugh and had the lowest expectations but there used to be some awesome and packed shows and kids would throw down. This was early - mid 200s. There's definitely a lot of musicians in the SWMO area.
glpg80
Well-known member
This is how I understand it as well.
Also, youre going to want to read the fine print of PayPal. Any transaction dollar amounts you send that include the 3% protection fee also fall under the same laws as eBay and reverb, and as such, you’re going to be getting a 1099 from PayPal as well. I think they said they’re going to allow users to access and print them from your own account, but they’ll be submitting one as well to the IRS.
Basically if there’s a platform making money off of your transaction online, youre going to have to report it to the IRS for tax reasons, buyer or seller. The only way around it is to use a platform that doesn’t make a profit from your sale if you are a private entity. If you’re a business, you should already be reporting it anyway.
japetus
Moderator
My grandparents lived in Branson South in a newer community when I was growing up. A lot of the kids I hung out with there, their parents worked at the shows as musicians or otherwise. Man, some of the killer guitars I saw..
MetalHeadMike
Well-known member
PP want's SS too under certain purchase/sale circumstances. No way.
War_in_D
Well-known member
In the early-mid 2000's, I was living in ATL.. Now THAT was a great place for music in general. I ended up back in this area around the late 2000's, but by that time my music "career" was pretty much over. I was a child of the 80's that made it into the grunge era before I kind of faded away, and I was never really that good of a player to begin with. LOL I just played because I enjoy it, not sure if anyone else did though.