rogue14

On 5/10/2021 at 2:43 PM, masterlogan2000 said:

If you're still not sure, you can find any tax forms within your PayPal account.  Here's a quick link that should work for you:
https://www.paypal.com/cgi-bin/webscr?cmd=_tax-statements

Now, if you signed up for eBay's Managed Payment system in 2020, then it's possible that eBay would be sending you those forms.  Below is a link to eBays tax form center:
https://www.ebay.com/sh/fin/taxforms

 

If you had sales in both systems, you may have forms on both sites.

Awesome! Thanks! Checked and don’t have forms on either. Phew!

1 minute ago, Ryan. said:

This is not necessarily true depending on the state you live in. Here in MA, $600 in total transactions, regardless of the number of transactions, equals 1099K

I think I qualify for the $600 threshold. Does this mean PayPal and eBay would send me a 1099? I haven’t received anything from either to date.

On 1/24/2021 at 3:15 AM, masterlogan2000 said:

PayPal just sent me a notice stating that my 1099-K tax form was ready.  This clearly had to be a mistake.  I'm certain I was well under the threshold for reporting ($20,000 in sales AND 200 transactions).

So, after doing some digging, I found that the residents of the wonderful state of Illinois have their own tighter reporting numbers, as does VT, MA, VA, and MD. 

I just wanted to give anyone in these states a heads up, as it took a little bit of digging on my part to find this info.

 

Why did I receive a 1099-K if I didn’t meet the IRS reporting threshold?
Some states (VT, MA, VA, IL, MD) have reporting obligations at a threshold lower than the federal reporting thresholds:

• Vermont, Massachusetts, Virginia, and Maryland: $600 USD in gross payment volume from sales of goods or services in a single calendar year regardless of the number of transactions.
• Illinois: $1,000 USD in gross payment volume from sales of goods or services in a single calendar year with at least 3 payment processed.

 

I'd be interested to know if eBay is also reporting this revenue with their new payment systems (I would imagine they are).

Funny enough, I was planning on having my first sales thread of the year here, but now I may hold off, as I'm certain I'll hit my $1000 limit for the year between that and my recent sales outside of the boards.  It doesn't look like PayPal is going to be a good option for me personally.  (And yes, I realize that this is not PayPal's fault).

 

 

I haven’t received anything from PayPal about a 1099, so I guess I don’t qualify even if I’m in one of the 5 states you mentioned. Any chance you have a link so I can read up on it more? 

1 minute ago, ADAMANTIUM said:

oh I thought this was about reporting for the 2022 year my bad  

Any idea if this qualifies for the 2020 tax season that’s due next week if we fall under one of the 4 states that have the lower threshold? I’m confused.  

Great! I already filed, and I’m just seeing this thread. Novice here. How do you find out if PayPal sent a 1099, do they contact us directly? And, how would I add this to my already filed taxes? Thanks in advance.

Yellow pages is better than nothing right?

18 minutes ago, THE_BEYONDER said:

Trimmed gets a purple label no matter what you do. 

Good point. Welp. Guess I’ll have to decide to either wait it out or get a restored copy with removal of the what’s possible and just keep the purple for trimming. 

36 minutes ago, The Man Without Beer said:

I would say it depends on many things. You can get your foot in the door with a lower grade blue label for what price you are looking at with a 7.5 resto label. Also, some restorations may not be easily undone. Ultimately depends how much you really care about the final presentation.

Book I’m looking at is offered at 2k. Not sure if I would be able to find a low grade blue label. Think they said there color touch, glue, a married page and trimming. I know trimming cannot be reversed but hopeful about the others. Maybe haggle a little.

1 hour ago, www.alexgross.com said:

its a crazy hot time now for this and many other keys. that doesnt mean it wont go down a bit at some point. might just be time to wait. 

a book like hulk181 is so easy to find in all grades that i don't personally think restored copies are worth it. there's a grade for every budget. but it might just be time to wait and see what happens to this market in a little while. 

Sadly, I’ve been waiting for a bit now and the more I wait the more out of range the book gets. 

Not sure if this is the right thread for this comment, if not please let me know.

considering the increasing cost for hulk 181, would it be ideal to get a raw restored copy in what looks to me to be between the 7.0 - 8.5 range and having the restoration removed to avoid the purple label, or leave it as is? Only ask as there is no chance of me getting a blue label anytime soon if prices keeping increasing. 

On 1/10/2021 at 6:55 PM, fastballspecial said:

Star Wars

 

Got it. Should’ve known. Thanks!

1 hour ago, fastballspecial said:

Just because I have a little time before my sales thread starts again.

Traditionally this time of year is slow for me and this year it was until
the end of Dec when money starting rolling again. I was happy for
the break because the Fall was insane as I have ever seen as a
comic seller. 

ASM 55 and SW are the kings of the modern and copper market currently. 
ASM 55 is going to be monster for years. Reprints, slabs, virgins and not
any store variants. I even thought about buying another 50 before prices
sky rocketed, but gave up.

Ive sold about 1/3 my ASM 55 at discounted prices currently. The only thing I 
didn't get in on were the virgins which I opted to buy Pre sold 9.8 copies instead.


I've bought every Dark horse SW book I can find in 150 miles of my house the 
last few months I could find cheap. I've sold quite a few and in a few months
from now they will have doubled in value I think at least. (U just accept it as
a seller lol.) Plenty to still find keep looking. 

Again still selling sets of Gargoyles and Marvel vs DC every few months. 

Kanan is the hottest series I have seen in a long time. 4 issues sell for good money
with 3 of them over $50 and climbing over $100 easily for 6. 

High Republic is selling well, but less then I expected after all the hoopla I guess it will
take more Disney announcements to bring it up more. Its going to be a longer hold then
some thought. Except the high end variants where people pay stupid money.

What has slow down for me is Maximum Carnage. I was selling 3 to 4 sets a month for awhile
I think it will slow down till more movie news. 

I look for growth in Space for Marvel. Annihilation and related should see nice appreciation
over the new year or so. It doesn't hurt that its a fantastic series. Captain America from 300
to 354 will see several books explode over the next year or so with the Cap/Bucky show. 

I am not as positive on DC except Wonder Woman which I can sell in high grade without issue.
DC's financial footing is rocky at best, but so I am shying away from the company, but I still sell
Dark Metal well when I find it cheap. 

I am just about sold out on Eternals and I am interested to see if the movie fuels more sales or not.
What was Marvel thinking producing so many variants for that book. 

 

 

 

Sorry to be that person, but what’s SW stand for? Can’t seem to keep track of all the abbreviations. 

15 hours ago, Number 6 said:

Just a few more hours...

I’m sure I know the answer to this, but is this real? Lol

21 hours ago, Murphman13 said:

A big thanks to @rogue14for the great trades. I have some good reading in my near future! All of these are new to me.

Your welcome! Glad they made it safely. Enjoy!

8 hours ago, PeterPark said:

maybe it was a hack...

until I saw this thread, I thought it was only me that all the pictures are not available In the holiday gift exchange thread 

Am I the only one that can’t see the images that are posted?

on topic, no updates yet. Saw that my receiver got there’s though. Shipping is a mess right now. As mentioned already, patience. 

On 12/9/2020 at 1:19 PM, Math Teacher said:

Luckily, we have a grocery store near us that serves as a Post office substation. And if you are trying to get postage online, I can highly recommend Pirate Ship. Its only drawback is that you need to be able to weigh and measure your package.

Substation is convenient. I’ll have to check out pirate ship. Postage and time are expensive right now so need alternatives. Thanks for that!

And sent on Monday!

PO lines are ridiculous. Never knew it got so busy during the holidays. Might need to look into getting postage online instead. And yes. I waited..

Revisiting this thread as I just heard about the platform. Anyone have updates on using this versus eBay and the other (fb, ig, etc) online platforms? 

And I’m in. I’ll do my best.😅

14 hours ago, Howling Mad said:

It seems like prices on all collectibles are rocketing. The cold reality? Some have done extremely well this year, while others have suffered greatly. It seems to be playing out with collectibles of all sorts.

Got it. Thanks! Thought I missed some release news of some sort. This makes the search a bit more difficult. Guess I shouldn’t have waited. O’well.

Haven’t been on for a bit so I might be late, but did something happen that the prices are increasing again? I’ve been watching a few on eBay and the prices are about libel to triple the initial.

On 8/19/2020 at 9:42 AM, GLCBrad said:

Another simple way is to go to the website www.130point.com and choose “search eBay sales” in the main menu.

Type your search parameters and make sure that “include best offer” is checked

This is absurdly easy and mobile-friendly 

 

 

Thanks! I’ve been looking for another site since flippertools is offline now. 

On 7/22/2020 at 6:42 PM, Crops068 said:

Depends on who the signature is and the cost but yeah I might be your huckleberry.

Second this. 

Thanks everyone !