Ebay W9 Form Reddit

Ebay W9 Form Reddit – Started a partnership with a friend on a business. I've always utilized freetaxusa to file my taxes but this year i had to provide ebay with my ssn as i sold $600+ in items and then i began hearing rumblings about a special change to filing that would now require waiting on a 1099 that may come as late as march?! For example if you bought a tv 4 years ago from best buy for $500 and sold it for $100 on mercari you would need to show receipt that it was sold at a loss. If you are selling through a 3rd party, think ebay, poshmark, etc, they may require it.

We would like to show you a description here but the site won’t allow us. If you purchase over 5000 in goods for resale, that could trigger the need for a w9. In most states, they have the right to ask you to confirm your sales tax status. Due to contract reason i had to sign the w9 form the vendor sent for our business.

But on the form i placed the ein of my partner who got the ein for business. So basically ebay wanted me to submit a w9, and i forgot to check a box and sign my name, but submitted it already. There's no way for a buyer to know that either, i don't think.

But if you are just a store selling products you don’t need to give every customer a w9. It goes into and no further than the files of the requestor. In light of the approach for tax season, we will have a temporary pinned post replacing the monthly questions thread for tax inquiries, as we’re seeing a lot of users.

If you or your business reside in the u.s., you must complete a w9 before epn can issue any payment. During the process we signed up with a vendor that requested a w9 form. The way to think about it is you are only taxed on items that you sell for a gain, not items sold at a loss, but you need to show some form of proof it was sold at a loss.

66k subscribers in the mercari community. We’ll send you a reminder, but we strongly encourage you to submit your tax identification information before the end of this year. Penalties can be very steep for a business not properly collecting and remitting sales taxes.

W9 Form Download W9 Form 2023 PDF How to fill out the W9 form