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Great news for Ebay sellers as well as any other third-party sellers
Also the threshold will shift from $600 to $5000 ...
https://www.irs.gov/newsroom/irs-announ ... CsAi0uTlIk
blizz
Ebay Sellers income tax reporting delayed
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fmblizz
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Curt A
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Re: Ebay Sellers income tax reporting delayed
As per usual...
"The phonograph is not of any commercial value."
Thomas Alva Edison - Comment to his assistant, Samuel Insull.
"No one needs a Victrola XX, a Perfected Graphophone Type G, or whatever you call those noisy things."
My Wife
Thomas Alva Edison - Comment to his assistant, Samuel Insull.
"No one needs a Victrola XX, a Perfected Graphophone Type G, or whatever you call those noisy things."
My Wife
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Jim_Cannon
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fmblizz
- Victor IV
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Re: Ebay Sellers income tax reporting delayed
Thanks Jim,, Not sure why the my link no longer worked.
Blizz
Blizz
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epigramophone
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Re: Ebay Sellers income tax reporting delayed
The situation in the UK as I understand it is that from 1st January 2024 all on line sales platforms, not just eBay, will have to notify HMRC of sales data for sellers.
It is not clear exactly what data eBay and others will be providing, but speaking as a retired tax inspector I assume that HMRC think that it is worth devoting resources to the investigation of potential undeclared trading income from these sources.
My personal view, for what it is worth, is that small time private sellers are unlikely to be targeted.
It is not clear exactly what data eBay and others will be providing, but speaking as a retired tax inspector I assume that HMRC think that it is worth devoting resources to the investigation of potential undeclared trading income from these sources.
My personal view, for what it is worth, is that small time private sellers are unlikely to be targeted.