The answer is a definitive NO. Congratulations. I'll keep trying but at this point very discouraged I must say. They charge 12.3% for managed payment members and you have no choice but to be a managed payment member to sell on eBay. 7 stonecruzJ 1 yr. ago I've been selling over 20 years now. Among the most daunting disadvantages of selling on eBay is the level of competition youll encounter on the site. In either case you are making ebay more money, which is what they are going for as a business. Just this week I experienced the worst.. A woman who purchased a Kirby vacuum cleaner 25 days ago stated she could not use the machine because a part was missing . 10-10-2022 11: . I have been able to become an ebay millionaire by doing over 7 figures in sales through my Ecommerce business on both eBay and Shopify and I aim to provide ebay motivation and ebay reseller tips and tricks. You can chat with other sellers about anything to do with running a business on eBay, Almost not Selling Anything Since a month- September 2021, ********************************************************************. Although its been a few years, my girlfriend still doesnt have an eBay store. And it has too much competition without the visibility. This information will also be reported to the IRS, as required by law. @Penny The 24% tax taken from future payments to ensure the IRS receives the tax due is known as backup withholding. Try doing searches incognito, also, and see what you find. Second week selling on eBay - listings getting no views all of - Reddit As with any endeavor there will be ups, and of course, there will be some downsides as well. It is better to have cash than merchandise getting old in a warehouse. If you've submitted your W-9 online, theres no need to send us a Form W-9 through the mail. #! The law applies to all sellers unless you provide a valid Form W-8 series and you are not: 1) a US citizen, 2) a legal resident alien, or 3) an entity organized under the laws of the US. Ebay used to be a great platform but now days its more of rag-tag warehouse. I have been on ebay since 2000 also. I am hoping for the best. Buyers factor in cost of shipping into overall costs. eBay has changed for the worse and ran me off. then add it that they can send you back a empty box and get both your product and their money back. Nothing is selling on ebay sheelagh33. Not worth my trouble anymore. I have only sold 2 items so far this month. EVERY AMERICAN knew how little pay we expected workers to produce are goods for from other countries. What made ebay great in the beginning was the fact that it was NOT simply Alibaba or Amazon (who I equally despise). Learn more about our data security in ourSecurity Center. Another 22% in tax, huge increase in fees, shipping, sellers costs once reasonable are now more than 35% on sold items, (tax, ebay fees, hassles, going to PO, travel, packing expenses, etc. The seller notifies eBay that they are subject to backup withholding. The seller did not ask you for your somewhat rude advice. A sole proprietor is an individual who is the sole owner of an unincorporated business. If you are subject to backup withholding at the time of the order, eBay is required to backup withhold and remit the withholding to the respective states. As of January 1, 2023, the IRS requires eBay to provide you with a Form 1099-K if your sales exceed $600 during the 2023 tax year. Starting on January 1, 2023, eBay and other marketplaces are required by the IRS to issue a Form 1099-K for all sellers whose sales exceed $600. Is anyone else struggling to sell on ebay, I am finding that I have to charge more for my items and postage to cover the FSV and buyers are not purchasing. They lost me as a seller and a buyer so they lost their fees on me twice and for what an extra 4.7-7.1%. If eBay remitted backup withholding to more than one state, your Form 1099-K will reflect all of the states from which backup withholding was imposed on your gross payout. It depends on where you live. Anyone experiencing the same issue? For more information,contact us. eBay is required to apply federal, and if applicable state backup withholding until you provide us with your valid TIN (SSN, EIN, or ITIN). Where are the regional Flea Markets and Garage Sales? Article totally wrong. Did a search for if ebay is worth it, stumbled across this article and thread, and glad I did. I dont think I could deal with the Time Suck of posting and listing items, waiting for customers then packaging and mailing the items that sell and possibly dealing with crap customers. Announcing the Share your Success Sweepstakes! (and many are going under water even with just the bills) biden throws 87,000 IRS agents onto small businesses so that makes them less inclined to do business. When they first had started, they would do anything to keep sellers happy. Were required by law to ask for your 9-digit SSN or ITIN for each account you have with eBay. I just left ebay and moved to ebid. You sold more than $20,000 and 200 transactions, You did not give us your SSN, ITIN, or EIN and we withheld on your payments or your payments were subject to withholding, even if you did not have available funds to cover your withholding tax. Dear God, same here absolutely avoiding ebay selling now. Just search for SEC filings, Ebay, 2020 2021, you will see some real data away from the smoke and mirrors of the ebay trolls that post at the community marketplace. That is a seller defect. Pictures are arguably one of the most important pieces of your listing as they are the first thing buyers see. I dont recommande Ebay to anyone me too I m leaving Ebay. The following is for educational purposes only. Next year I expect to receive a 1099-K from eBay for ~$1400 in gross sales. I have used Ebay to sell unwanted items that I had and somehow seemed to gravitate toward sewing machine and vacuum cleaner parts and some actual machines. after a while the cons out weigh the pro's. SeeForm 1099-K instructions(box 1a). to get listings at the top of search results. Form 1099-K is a document that taxpayers receive to report payments that payers like eBay make to you. Already market analysis are predicting slowing trends which is normal for this time of year but the normal flow of traffic and buyers is going to go way down. as far as feedback goes youll either get negative or none at all that would be worthy of your time, elbow grease, dedication and whatnot else, investments you put into even trying to sell a penny item. Thought I might try again (June 2022) now that I have accumulated some stuff that Ive no need for but maybe someone out there is searching for. Anti seller policies. Handling time and estimated delivery dates, eBay Labels international shipping services, eBay International Shipping Program details, Final value fee update in the Jewelry category, Updates to how you manage your financials. Recent statistics (July 2022) show that eBay is the second most visited eCommerce website worldwide, with 590 million visits. Nothing works (promotion, sales, renewing listings, adding many more listings etc). I give up! Either one involves a lot of work that may not pay off to the seller initially. A sole member of a Limited Liability Company (LLC), are sole proprietors only if 1) The member is the sole individual owner; and 2) The member did not make an election to have the LLC be treated as a corporation for tax purposes. Ignore the negative comments as a lot of those commenters aren't even selling a thing on here. Ever more endless hastling risky to the seller policies. ebay was a pioneer and really was a prime example of the good the Internet could do and link us together it was fun, easy, and amicable for both a seller and buyer. The IRS and States require the TIN to comply with Form 1099-K requirements. Look at your page views they've dropped significantly too. January 2022 - no sales Hey guys, I've been selling on eBay for two years now. After taxes, shipping costs, eBay fees, and of course, the cost of the product itself, she was making a few dollars on each item which was making it worthwhile for her, especially since she was doing it in her free time. Wondering if anyone has any comparative ways to sell on another site? I sell industrial filtering media so the demand will be there. Your account may still have additional restrictions and you may be on payout block even after you provide your TIN. Has to be the economy as my sales have gone down month over month over the last 18 months. shitZon (Ama) is not an alternative at all but it depends on your commercial status and how big you are. This is a great advantage as it means you wont have to operate in the same manner (or for as much) as a big business. Remember My Space? Unfortunately, once we withhold and remit the amounts to the IRS and the states, we cannot legally refund the withholding even if the buyer returns the item. The IRS requires eBay to apply 24% backup withholding on the gross amount paid to you. Shipping costs along with trying to be competitive with pricing is a problem. But i really hope im wrong for everyone's sake. Dishonest sellers from China are going to ruin this platform just as they did with Tophatter. Every week I release videos around the most important topics about making money online, and most of the important tips you need to start making a passive income online. eBay is the new Sears & Kodakcomplacency is a death knell. So I, downgraded to a Basic Store, then it went the same way with paying for a Basic, now I'm down to starter. - then add in people not paying when they win a auction or buy something. In fact, there are many individuals that make a decent living using eBay to sell things from around their own homes that they no longer need. and SS#, etc. And yes with the amount of exposure and sales eBay generates you have to constantly hustle your ass off to be part of it. I've ran steep markdowns, PL's to no avail! List new items every day Stores that are active and offer new products on an ongoing basis are rewarded. Most horrible month for me after 11 years on eBay. Pictures are what sells your items! This is 2/6/23 and things are much worse. You need to know what your item typically sells for on the platform. 1) Take Better Pictures Is it possible your pictures aren't up to par? and you feel much more appreciated donating your things to a needy population. This is not about complaining, its about facts. If not, you can simply leave it at your custom title. just call it shitBay. Help us stop over-reporting and the avoidable disclosure of private information. Only you are familiar enough with your own situation, income needs, intended market, and available time and level of effort to make the decision to begin selling on eBay or to not. They stay on your account for 12 months. If you have multiple eBay accounts associated with the same SSN or ITIN, the Form 1099-K reporting threshold will be calculated by combining all transactions for all accounts for each calendar year. Ebay wants to turn itself into Amazons profitable revenue stream but they dont know how. Hard work is how you make money. After I deduct all sales related expenses which amounts to ~$500, I will net ~ $900. Solved: Hey guys, is just me or the sales on eBay have dropped really bad? The main topics covered on this channel are how to find winning products to sell online,how to use google ads to make money online and how to start making money on both eBay and Shopify.amazon fba vs ebay, best selling items on ebay, ebay beginner tips,ebay dropshipping,ebay feedback,ebay feedback removal,ebay for beginners, ebay managed payments,ebay millionaire,ebay motivation,ebay reseller,ebay reselling,ebay sales tips,ebay seller interview,ebay sellers fees, ,ebay selling tips and tricks,ebay success,ebay updates,how to sell on ebay,how to sell on ebay fast,how to sell on ebay for beginners,how to start an ebay business,make money on ebay,make money online,selling on ebay,steps to success on ebay,success with sam,what sells fast on ebay,what to sell on ebayThank you for watching - I really appreciate it :)Like comment and subscribe!#eBayReselling Thanks for writing this and for everyones comments and insight. Important information about how this change in legislation will impact you. Its one of those businesses you can start with less than $100, or in some cases with just a few dollars (to pay fees and shipping costs). . I feel your pain. Out dated and missing the point of its title. eBay is required to send a letter to every seller for whom the IRS sends a backup withholding notice unless the sellers information has been updated. If youve sold goods through eBay and the total sales exceed the IRS threshold, the IRS requires us to send you a Form 1099-K. IRS regulations require all payors, including online marketplaces like eBay, to issue a Form 1099-K for all sellers who meet the reporting threshold, namely $20,000 and 200 transactions in 2022 and $600 with no transaction threshold in 2023. Etsy for example, is a great place (fast growing) for handmade stuff. Etc etc. There is no such thing as a free lunch. If you havent already given us your Social Security number (SSN) or Individual Tax Identification Number (ITIN), well ask you to provide it once you reach $600 in sales. The gross amount includes all income and does not exclude credits, discounts, fees, refunds, etc. Good luck to you! The new tax reporting requirement will impact your 2023 sales, it will not apply to your 2022 sales. What is happening is going to be brutal I am shorting this stock LOL. c. I listed it for $54 including free shipping and the item is sold in less than 10 hours. Follow the path of eBays demise and you are almost following the exact path of the American economies demise. new titles Nothing is giving. No. For more information, please see our I don't look for any big resurgence in online shopping any time soon, though I'm sure the holidays will have the usual uptick. To prevent payout blocks or payout delays, make sure you give us your valid TIN. You must have done a great job writing this as it still gets attention! We cannot buy the fabric in the UK to make cushions for the price that China is dumping these products on Ebay and that includes the postage cost too that cost they much less to post from China than we can post items from the same town. A refrigerator is one of the most important appliances in your kitchen, so you want to choose well, - Continue -, "I'm broke and desperately need money fast!" For the tax year 2022, you will receive a Form 1099-K if any of the below apply: We will continue to lobby Congress on your behalf to raise the $600 threshold. Since prices for goods and services are increasing more and more each day, we - Continue -, Get our official eBook & start earning extra money today! Get your feet wet and see how things go. If yours is not on the first page or 2 you may be out of luck, at least as far as consistent quick sales go. And you are so right about fraudits a headache we dont needanyone got ideas apart from craft that takes different items ? No one is disputing the high fees, bad (for sellers) policies, and competition. I havent been selling almost anything since a month ago, is driving me crazy. If your total sales for the calendar year 2022 exceed $20,000 and 200 transactions, you will receive a Form 1099-K in the mail by January 31, 2023. . is there any other platform that you guys would suggest? As was noted before, many people will sign up as sellers on eBay in order to create and extra revenue stream or completely replace their full-time income. Another problem is the amount of time that it takes to actually get paid on eBay, since the loss of PayPal every time I tell eBay customer service that buyers dont always pay, they just reply list it again I dont feel supported anymore.I would rather pay the fees of PayPalstock then piles up and we lost the bidders..can we no longer choose pay Pal at all ? Only good for clearing old unwantet stock n accepting a loss. I sold a few things about 20 years ago when it was FREE to list and no taxes were figured in, if you can believe that. not online. Your Form 1099-K will be mailed to you and made available to download inSeller HubandMy eBayby January 31 of the year following the year of payment. Id person selling might be much more effective and happier. I did, and Im making 20% profit. Comment * document.getElementById("comment").setAttribute( "id", "a74bfd8ff9a588c07fa129139abb12dc" );document.getElementById("c9753391d8").setAttribute( "id", "comment" ); Join Panda Research and earn $3 to $75 per survey! At the start, Id eke out a small profit on most stuff with the occasional item that skyrocketed in value to make real money. A deep dive into eBay Motors new Guaranteed Fit Program, A Conversation with former eBay employee, Sarah McDonald, Testing eBay tools with eBay seller, Sarah Ahr, In conversation with Up & Running grantee, Joe Sorrentino, New!Create and share custom posts on Facebook, Instagram, Twitter, or Pinterest from your eBay Store, Get organized with the help of business policies, Seller Announcement: Promoted Listings AdvancedBETA now featuring more slots in search, Automatically keep your Promoted Listings Standard campaign competitive with eBays dynamic ad rate. It doesnt worth to sell on Ebay anymore. Solved: Almost not Selling Anything Since a month - The eBay Community So, they are less likely to pay more for product when looking at the higher shipping costs. Casual eBay Seller Getting Ready for Tax Year 2022 1099-K - Intuit If you need additional help with the electronic Form W-9, you can also download the Form W-9hereandcontact uson instructions on how to submit it. Paypal fee = $1.83 We also recommend youenable 2-step verification. Looks like are slave labor scam is up. The First B Notice requires the seller to provide a valid Form W-9 with a correct Name and TIN (SSN, ITIN or EIN) combination. Now its there to screw over its customers (the sellers) rake money from the shaft and hand it to non-working foreign investors. Let's see what happens over the next few months. These fees, of course, can be avoided by setting up your own website, however, a clever eBay vendor can find ways to avoid, minimize, or even use these fees to their own advantage. sad but true. How and where you enter your business or personal name on a W-9 depends on the type of business youve set up. eBay is your gateway to 120 million ppl, just need to list what people are looking for. The current rate of federal backup withholding is 24%. Really, nothing works and literally I have no other choice. Your statements are right on. Lee is correct. It looks like you are staying the same and not selling less as you said you where. but lets be honnest, its also the economy. Id perhaps do a test run. We have had to inch that up a little higher on some items to keep the sales coming. I also think that 'stuff' is becoming progressively less important to people. 3. Weve partnered withTaxActto provide information and resources to consider for your tax filing. Check with your states tax or revenue department to confirm the Form 1099-K threshold for your state. I guess that explains why nowadays most sellers seem to be from east Asia selling knockoffs of almost every brand. On December 23, 2022, the IRS issuedNotice 2023-10providing a one-year delay of the $600 reporting threshold; therefore, for 2022, the threshold is $20,000 and 200 transactions or more. This is an ebay issue. this is ion addition to them having COMPLETE control over the bank acct. If backup withholding was not applied to the entire payout, the portion of your payout not yet withheld, will remain on payout block. You can go to the details page of the transaction to see a list of orders that were subject to withholding. If your combined sales for 2022 are more than $20,000 and 200 transactions, youll receive a Form 1099-K for each account, even if one or more of the individual accounts does not exceed the IRS reporting threshold. Thats basically the problem in a nutshell. How is this legally allowed that they only advertise the fees for members who are not allowed to exist on their site. The company previously announced the new requirement, but the topic came up again during Wednesday's weekly chat session when a seller asked about a discrepancy in eBay's messaging about the personal data it would be requiring. Perhaps the horrible economy right now plays a part of this, but truthfully I am baffled. This is it I'm calling it quits as the business has dwindled to $100 dollar weeks. It reports the gross amount of all payments within a calendar year. You pay to promote an item but when you go look its not there but the fee certainly is. I think people are just shopping more at B&Ms and not that interested in yet MORE online activity. Ebay cut that snake off at head and my post isnt even there. The high cost of living out there forces people to look for deals. I started selling automotive power window motors in 2001 until about 2006. Sad! And the change does not take into account the millions of individuals selling used or pre-owned items where there is no taxable event. Thinking about it now, Im sure the Chinese are a huge part of ebays profits so theres no way theyll let anyone bash them. 117 Ways to Make Money During Coronavirus, In the market for a new refrigerator? Certainly it is unintended consequences but it is still very valid. Greed and profits, etc., just seem to always ruin it for the average person. A B Notice is a backup withholding notice for the seller that eBay receives from the IRS. Lindey Glenn 139K subscribers Subscribe 44K views 3 years ago #lindeyglenn #workfromhomemom #ebayseller Try fixing these. Now they have a company prepared to give customers the shaft and employees who dont give a damn. I tried to contact them 4 times and always got bounced around departments. I searched for turquoise nugget and in the first few pages I found more than 10 Chinese sellers that are using the exact same stock photo of a turquoise nugget. d. I paid following Or, build your inventory to such an astronomical size that the sales will naturally come just through statistical probability. The algorithm favors sellers that list new products often, so keeping your listings fresh will help you to increase your sales on eBay. You just sign up for an account and try selling some things from around the house that you dont want or need any more. online buyers just dont want what you got. A Trick to Bring Your eBay Sales Back from the Dead - [!SiteTitle] eBay will have to block payouts and withhold 24% if: 2. store now. I am thinking dropping out Ebay completely. If youre selling as a business entity (sole proprietor/single member LLC, corporation/multi member LLC, partnership), youll need to provide the following: Tax law requires eBay to collect your TIN (SSN, EIN or ITIN). before selling anymore, it can screw with your SS, taxes, etc. Were committed to protecting your personal data with leading edge information privacy and security programs to ensure your data is secure. It makes me feel like my listings are invisible. Wireless chargers are top selling items on eBay as well as trending tech products in general. Right on Bob. Please reach out to a tax professional if you have any questions or concerns about any tax filing or regulations. All the best to you - hopefully, someone will post who knows more about your category that you sell in. We are selling the remaining inventory on eBay. Sara, Id say it depends on your product/service. this is more apparent since the split of Pay pal and eBay.. Sales have been declining slowly and steady for the last year and a half. All of the small sellers cleaning out the house are gone now, all the good deals went with them. I had a break of about half a year and then I came back to selling this January. I thought I would make some extra money this winter with eBay, but I believe I need to rethink that idea.. Richard, thats one thing I dont like about eBay. It was a small sellers venue. To do this, we need accurate information about our customers, including your SSN or ITIN. Why I Don't Sell Things On eBay Anymore! | by Ruby Lee - Medium Now that its impossible to get retail price for practically anything, and postage has gone up, and fees on postage have gone up, and PayPal stopped refunding fees on cancellations, and forced auto-relist fees are looming behind every increasingly-rarer free listing promotion, and Mangled Payments with its per listing fees is closing in, its difficult to get even half what I paid for anything so I can get the heck out. So lets look at some numbers again: 12 + 4.7 (to 7.1) + 5 youre looking closer to 20+% and being forced to sell for less at the same time. It becomes a stealer yes .it charges 24.02% from the paid price ( selling price plus shipping) . and our Also, maybe you sell something that the govt does not like, EBAY is required to give the IRS and any govt agency ALL your data on sales, types of products, money amounts, your bank acct. Ideally, you'll find the correct category hierarchy that already exists on eBay for it. Full of big supermarket sellers taking overoften at a loss below costs. After selling for 25 years on EBAY, i am done with them, cancelled my acct. 700 listings for window motors..it was a relatively new category and I did very well. To obtain a new SSN card or the IRS letters, the seller will need to contact the IRS or Social Security Administration (SSA) to obtain the appropriate documentation with the correct Name and TIN combination. There are different things that can make or break an eBay business. Starting on January 1, 2023, eBay and other marketplaces are required by the IRS to issue a Form 1099-K for all sellers whose sales exceed $600. As long as there are no other pending account issues, eBay will initiate your payout automatically on the same day as withholding. However, there is a way around this unfortunate fact. eBay is required to collect your valid TIN (SSN, EIN, or ITIN). opps, to answer your question, (i pulled the plug after 16 years on ebay) last winter. However, slower sales on your other products should afford you the opportunity to do this. Ive spoken with eBay customer support MANY times. The way eBay is structured it provides a detailed list of instructions that takes you through the process of posting your items for sale one step at a time. Traditional APIs: Orders, resolutions and feedback, eBay APIs: Talk to your fellow developers, RESTful Sell APIs: Account, Inventory, Catalog and Compliance, RESTful Sell APIs: Marketing, Analytics, Metadata, Post Order APIs - Inquiry, Case Management, Boost Fathers Day sales on eBay with these shopper insights, Tune in to hear answers to your questions, Reminder: Summer Seller Check-In takes place tomorrow. Well provide a Form 1099-K to you by January 31, 2023 if: 1) you received more than $20,000 and had more than 200 transactions; or 2) you did not give us your SSN, ITIN, or EIN and we withheld on your payments; or 3) your payments were subject to withholding, even if you did not have available funds to cover your withholding tax; or 4) you reside in a state that has a lower reporting threshold than the IRS reporting threshold.

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