Reverb🖕

[Exo-metal]

Anyone else feel this way having to submit your ssn to do business there?

 

[glpg80]

I’m not a fan of it but if I have to do it to sell a high ticket item here or there than so be it.

What I worry about is whether Etsy has the security to assure a massive hack doesn’t happen because they store more information than the IRS.

I have no problem stating I sold something and broke even or lost my ass to the feds. I just hate Etsy is keeping SSN’s to do it.

 

[Krull]

31 trillion in debt and counting. Record tax revenue this year as well. Gotta make sure the interest on that debt is paid back

 

[gtrwun]

Yeah. It’s bullshit. How many times can they tax a used item?

Who really has original receipts for gear you bought 10-15-20 years ago?

Stuff I bought on eBay years ago, they have no history of the purchase now. IRS can really put the screws to you in an audit if you don’t have your ducks in a row.

 

[ghosty999]

Next they'll be asking for an Ancestry DNA butt swab

 

[gbsmusic]

I have never cared for Reverb, I've only bought things, never sold but I do have issue with giving ss#.

 

[alan67]

Nope, ain't gonna do it

 

[Mikeyboyeee]

It's not Reverb. It was part of a bill signed by Joe Biden requiring banks, etc to report transactions over 600 so that they can tax you on it.

 

[glpg80]

It's not Reverb. It was part of a bill signed by Joe Biden requiring banks, etc to report transactions over 600 so that they can tax you on it.

They can do it without storing a SSN. They themselves aren’t a bank and I don’t owe them money so why would they need to store my SSN?

 

[kmanick]

have only bought , thankfully I have had good luck on the FB marketplace and forums

 

[Geo]

Nope, ain't gonna do it

+1

 

[Warmart]

Not a fan of being taxed for used sales that were already taxed. Newp!

 

[Clig Herdunkachuk]

They can do it without storing a SSN. They themselves aren’t a bank and I don’t owe them money so why would they need to store my SSN?

Actually they need a FEIN to report to the IRS. If you are a business you have an FEIN specifically for the business, if you are an individual your FEIN is your SSN.

 

[glpg80]

Actually they need a FEIN to report to the IRS. If you are a business you have an FEIN specifically for the business, if you are an individual your FEIN is your SSN.

Could you start a business and register a FEIN in place of a SSN to remove the need for them storing your SSN?

 

[Clig Herdunkachuk]

Could you start a business and register a FEIN in place of a SSN to remove the need for them storing your SSN?

Absolutely

 

[Racerxrated]

have only bought , thankfully I have had good luck on the FB marketplace and forums

This.

 

[SpiderWars]

Anyone else feel this way having to submit your ssn to do business there?

I was flipping Reverb double birds long before the whole SSN thing. I drew the line WAY before this.

 

[Snax Panther]

I don’t believe I’ve ever made a profit selling gear. Not a single time.

I’ve always been of the mind that I can give someone a slightly better deal than I got.

GTFO, Reverb.

 

[tonedover]

It's not Reverb. It was part of a bill signed by Joe Biden requiring banks, etc to report transactions over 600 so that they can tax you on it.

Well, it was one paragraph of one of the huge relief bills. And there is a group of Dem congressmen lobbying a new bill to amend the $600 limit up to $6k

I agree it was a huge blunder that penalizes hobbyists and collectors; while their goal was to tax the “pinterest and ebay sales are my income” crowd that has gone relatively untaxed before. Stupid to include.

What a surprise - our representatives from both red and blue have no clue how normal people go about their day to day.

 

[SpiderWars]

I don’t believe I’ve ever made a profit selling gear. Not a single time.

This is the part that makes it seem like such a waste of time. Can I just tell the IRS, "I don't keep receipts for gear transactions where I lost money, I only keep the receipts when I made money...and I don't have any receipts."