I would not worry (yet) about the new tax form (1099-K) that various places are supposed to send.IRS does not have enough resources to go after big tax evaders owing way more than a few hundreds or thousands in taxes that small sellers could potentially owe.You can declare everything a loss, who knows how much you spent on old stuff anyways, not even you know it.
LOLPaul..Next time I buy a gun from you I'll drive down and pick it up... that way I can write off the travel expense... Win Win... free shipping and a free road trip.
Heck, we could do lunch and claim that as well.
Just to clarify my point, here is a direct copy and paste from PayPal...Why did I receive an IRS B-Notice?Since you received payments for goods or services through PayPal, we’re required to submit a Form 1099-K with the U.S. Internal Revenue Service (IRS) when the payments you receive meet the reporting thresholds set by the IRS. The IRS informed PayPal of a mismatch between your legal name and Taxpayer Identification Number (TIN). As a result of this mismatch, you received a B-Notice. Please pay particular attention to the RED words. Payments for goods and services are NOT F&F.
Quote from: avator on January 16, 2022, 09:13:09 AMJust to clarify my point, here is a direct copy and paste from PayPal...Why did I receive an IRS B-Notice?Since you received payments for goods or services through PayPal, we’re required to submit a Form 1099-K with the U.S. Internal Revenue Service (IRS) when the payments you receive meet the reporting thresholds set by the IRS. The IRS informed PayPal of a mismatch between your legal name and Taxpayer Identification Number (TIN). As a result of this mismatch, you received a B-Notice. Please pay particular attention to the RED words. Payments for goods and services are NOT F&F.This exactly. F&F is NOT used for sales so they will not issue a 1099 for any F&F transactions. I'm pretty certain that you are not using F&F for sales to people you don't know, right?
Quote from: fatmike on January 12, 2022, 12:50:04 AMI agree with op. It's to hard to sell a gun and guarentee it's great forever. People expect the world of a used gun. It's going to leak sooner or later. Sorry but if I sell any gun I'm selling them as parts so nobody can complain and slander me when something leaks or breaks on a used gun. I learned my lesson trying to deal with an unhappy customer. Never againThat’ll work. Sell as a parts gun to save yourself a potential headache. Intentionally break your gun to sell it as a parts gun.
I agree with op. It's to hard to sell a gun and guarentee it's great forever. People expect the world of a used gun. It's going to leak sooner or later. Sorry but if I sell any gun I'm selling them as parts so nobody can complain and slander me when something leaks or breaks on a used gun. I learned my lesson trying to deal with an unhappy customer. Never again