The change is part of a provision added to Section 9674 of the American Rescue Plan (H.R . If nothing else, I figured my post would be a warning to other buyers. Anyone experiencing the same issue? Looks like they are weeding out sellers quickly. 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. The seller did not ask you for your somewhat rude advice. opps, to answer your question, (i pulled the plug after 16 years on ebay) last winter. Currently Ebay has publicly published that credit card information along with banking information must be saved on their servers, (allegedly in Amsterdam) Now, this is a huge security problem one that We cannot risk and so after 21 years on Ebay we will no longer be buying or selling on Ebay and Yes, we are mad, not that ebay has the right to do this but that Ebay would decide to do this given the way that the internet economy actually works. 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. Report Inappropriate Content 08-10-2022 10:53 AM. Then this year ebay limited me to 1400 items due to the seller defect rate. In the end I actually paid 13.7% on my most recent sale. no customer support was my main reason. If there is anyone that is interested in becoming a seller on eBay they can always try it out without too great a level of risk. not online. 3. eBay also ranks just behind Amazon as the retail platform with the most mobile traffic, with 307 million unique monthly visitors . I hope a class action suit is slapped on them soon. eBay complies with both federal and state reporting requirements. by Saeed - Verified & Updated May 24, 2023 (This post may contain affiliate links.). 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. you should calm down and learn about the current market more. Hello! . Little to no profit. (its not bad enough that china subsidizes/pays for shipping for them) how do you compete when you pay 32 dollars to ship and they can do it for free? Advertisements My girlfriend didn't think selling on eBay was worth it anymore, which is why she closed down her little eBay business right around 2011. In other words, I believe those who help ebay the most get the highest rankings in search. You can also consider Amazon. It becomes a stealer yes .it charges 24.02% from the paid price ( selling price plus shipping) . eBay is unable to give tax or legal advice to our sellers, however, we want to help make dealing with filing your taxes as easy as possible. then add it that they can send you back a empty box and get both your product and their money back. The new tax reporting requirement will impact your 2023 sales, it will not apply to your 2022 sales. The descriptions are very similar if not exact. Copyright 1995-2023 eBay Inc. All Rights Reserved. Solved: Almost not Selling Anything Since a month- Septemb. 700 listings for window motors..it was a relatively new category and I did very well. Learn More, businesses you can start with less than $100, 10 Best Places to Buy a Refrigerator in 2023, Broke, Unemployed & Need Money? Some item categories can have tens to hundreds of thousands of individual items in them. You must have done a great job writing this as it still gets attention! Once the withholding is remitted to the IRS or the states, eBay cannot legally refund it, even if the order is canceled. Stuff is selling. Thats basically the problem in a nutshell. The IRS requires eBay to withhold 24% on all gross payments from sellers who fail to provide the appropriate required and valid documentation. As long as there are no other pending account issues, eBay will initiate your payout automatically on the same day as withholding. I have been on ebay since 2000 also. I am reading these replies with interest. If eBay is backup withholding because we dont have your full 9-digit TIN (SSN EIN, or ITIN), give us your TIN and we will stop backup withholding. speaking from experience it doesnt seem that opening an eBay store is a sane, productive idea. I sought some help/advice from the ebay community so I posted the issue with the name of every Chinese seller using this stock photo. Its ridiculous but I actually sell more, in both items and dollars, at conventions with 500-1000 attendees than I do online. We were where you are, about 45-60 days ago. all goes to bills. Tax law requires eBay to withhold on the gross amount of your payout. 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. Shipping = $5.25 I went through my listings (7600+ items) and found unique items just sold within days were relisted by ebay. If you are retired, on SS, small Mom and Pop, or just someone trying to make ends meet by selling your own stuff, if its over 50 bucks a month, it counts as earned income, not the 20,000 like big companies, or huge sellers. So I, downgraded to a Basic Store, then it went the same way with paying for a Basic, now I'm down to starter. Now I received notice that if I dont improve my defect rating I will be suspended next month (Jan 2017). Shipping costs along with trying to be competitive with pricing is a problem. Solved: Hey guys, is just me or the sales on eBay have dropped really bad? Competition especially from overseas even when saying they are local. online buyers just dont want what you got. ebay sent me a message to try the new beta marketing campaign $500 off **bleep**! When this began to happen in Sept of 2015, like I said I would just refund, never thinking there would be a problem. and you feel much more appreciated donating your things to a needy population. After selling for 25 years on EBAY, i am done with them, cancelled my acct. Or a convenient way to drop off returns. Comment * document.getElementById("comment").setAttribute( "id", "a74bfd8ff9a588c07fa129139abb12dc" );document.getElementById("c9753391d8").setAttribute( "id", "comment" ); Join Panda Research and earn $3 to $75 per survey! I dont recommande Ebay to anyone me too I m leaving Ebay. The IRS notifies eBay that the sellers name/TIN combination does not match the IRS records; or. 2022, eBay will refund the entire final value fee, including the $0.30 per-order fee, when you approve a buyer's cancellation request . Reuben, try have you tried the other eBay alternatives? 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. You are missing something in your article rendering it totally inaccurate. Ebay cut that snake off at head and my post isnt even there. It used to be the opposite in the past when I cross-posted to the other platforms, stuff would sell here before the other platforms, things are off here IMO/experience! What made ebay great in the beginning was the fact that it was NOT simply Alibaba or Amazon (who I equally despise). I wonder how many people actually make a profit worth the effort they put into sales. I'll keep trying but at this point very discouraged I must say. Take advantage of Selling Manager Pro features for free. So it is not really about IF your bank account, your credit cards, your identity might get stolen it is about When it will happen. How and where you enter your business or personal name on a W-9 depends on the type of business youve set up. It works out too expensive nowadays. Of course I removed them and started to check my listings daily to remove any other listings placed there by ebays server problems. and if that was back in 2011 I think this seller interface has gotten a lot worse. In every case, the eBay rep. had a Filipino accent and mannerisms. 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. How is this legally allowed that they only advertise the fees for members who are not allowed to exist on their site. . Copyright 1995-2023 eBay Inc. All Rights Reserved. Good luck! Folks, privacy is gone on EBAY. If you received a Second B Notice, you can upload a copy of your SSN Card, IRS Letter 147C, or IRS Letter 685C throughSeller HuborMy eBay. Face it its over and people will stop using it once all the good deals from the small sellers are gone. It might be a good idea to check with your states tax or revenue department to confirm the Form 1099-K threshold for your state. She used to sell clothes and shoes on eBay a few years back. Dear God, same here absolutely avoiding ebay selling now. Sellers can also use thetransaction reportin Seller Hub to reference the amount of tax withheld. Given that many other online retailers offer free shipping with memberships. In either case you are making ebay more money, which is what they are going for as a business. Etsy for example, is a great place (fast growing) for handmade stuff. Then dont forget if you dont meet your eBay goals which you will not unless you pay the extra 4.6-7.1% they add an additional 5% fee because you did not meet your goal. EBays fees have grown yet again and they are hiding the truth from the public. Not as good as what ebay used to be but I am hoping and here is the reason and MOST EBAY sellers have no clue as to what is going on with EBAY, the IRS, EBAY control of your bank acct. All of the small sellers cleaning out the house are gone now, all the good deals went with them. Good luck to you! If your total sales on eBay exceed the Federal reporting threshold of $20,000 and 200 transactions in 2022, your Form 1099-K will include your total sales amount for all goods you sold during the calendar year. I have spoken to eBay several times, and my account is in good standing. EBay is scamming business that tries to dupe people into selling on their platform by hiding the facts. The Second B Notice requires the seller to provide a copy of their SSN card (individual), IRS 147C letter (business), and IRS 685C letter (individual with an ITIN). A common situation many of us find ourselves in at least once or twice in our lifetime. Theyve raised fees again, hidden in the small print. for the best. That what made it so much fun both as a seller and as a buyer. It has a long way The real story here is in the comments, LOL. Anti seller policies. Don't like the new counting method. Sadly that has changed, with what is going on now, I can no longer sell on the platform, mostly because of the third party payment management financial product that is located in Amsterdam. It doesnt worth to sell on Ebay anymore. Sales tax that eBay collects from your buyers is not reported on the Form 1099-K. You can read more about what is included in your Form 1099-K on theHelp Hub. You cancontact usfor instructions on how to mail your Form W-8 series to eBay. Wish they'd restore the old method. Any ideas? I feel your pain. This information will also be reported to the IRS, as required by law. Welcome to the Selling board! It all comes down to every sellers unique situation (where they get their products from, how much it costs them, how much profit can they make after all the fees, etc), which is why at the end of the article I mentioned that its best to do your own investigation and base that decision on whether or not you can make a profit on eBay. I just left ebay and moved to ebid. inflation and business's hunkering down. The sad part is I spent thousands of dollars on eBay buying huge lots of old toys. 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. Hard work is how you make money. Yes, the requirements apply to United States citizens selling in other countries. I considered jumping back in however, now there are now 664,000 listings for window motors! I am thinking dropping out Ebay completely. I completely agree with all who have posted. Wondering if anyone has any comparative ways to sell on another site? Buyers complain about every little thing and want partial refunds. For some people it may not be worth it, but for some it will be as it is evident from hundreds of thousands of sellers who are still making money on eBay. There are so many new ways ebay has now to make money from sellers and to raise seller merchandise visibility like promoted listings, store subscriptions, seller fees and so on. Now they have a company prepared to give customers the shaft and employees who dont give a damn. Its such a shame how eBay treats its sellers nowadays. It reports the gross amount of all payments within a calendar year. (My Honest Experience) Success With Sam 142K subscribers Subscribe 12K views 1 year ago #eBayReselling Is selling on eBay dead in 2022, this is my honest. Did a search for if ebay is worth it, stumbled across this article and thread, and glad I did. I've ran steep markdowns, PL's to no avail! The gross amount includes all income and does not exclude credits, discounts, fees, refunds, etc. ebays PAY to PLAY. It looks like you are staying the same and not selling less as you said you where. Let's see what happens over the next few months. Or, build your inventory to such an astronomical size that the sales will naturally come just through statistical probability. To the author; We had to take our PLs (promoted listings standard) to 10-12% to get any traction at all/any sales. Thats sad to hear. (but also ebay policies keep changing for the worse) to me it seems ebay is chasing off smaller sellers here in the u.s and catering to china sellers. Your account may still have additional restrictions and you may be on payout block even after you provide your TIN. Next year I expect to receive a 1099-K from eBay for ~$1400 in gross sales. Individual identification information for beneficial owners, officers, directors, or account managers, Doing Business As (DBA) name (if you have one), SSN, ITIN, or Employer Identification Number (EIN). 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 . I havent been selling almost anything since a month ago, is driving me crazy. If your eBay listings are getting no views, one of the primary reasons might be SEO compliance. I have only sold 2 items so far this month. And if the Chinese are shipping from that far away and beating your prices and delivery times them you just got out hustled suckered! Welcome to the Selling board! Hey guys, is just me or the sales on eBay have dropped really bad? Even the Chinese arent dumping anything on there but real overstock. If you havent received a First B Notice in the mail, or if you need to verify and update the information in your account, you can fill out an electronic Form W-9. If I didnt have that component to my business, I wouldve had to burn everything in the backyard. This tends to end in a great deal of listings being posted for similar products and thus a higher level of competition. Listings Not Optimized. Many chargers on the first results page are magnetic and 3-in-1. 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. 21 stickers in august and 9 so far in September. 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. Not at all now, let me give you an examples, a. MSRP of some item is $60 + taxes = $64.95. When your name and SSN, ITIN, or EIN on your eBay account doesnt match the IRSs records, youll receive a B Notice (notice of backup withholding) through USPS. Hello, I have been on ebay for 20 years selling off and on. 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. Im kinda worried.. Archived post. The IRS requires eBay to withhold 24% tax on payments eBay makes if: 1. The algorithm favors sellers that list new products often, so keeping your listings fresh will help you to increase your sales on eBay. You need to know about the competition that you're up against, and work out how to position your item in the marketplace. If you dont provide your 9-digit TIN, your payouts will be put on hold and we may deduct backup withholding from future payouts. 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. When you are creating your first product listing on eBay, keep eBay's four pillars of a successful listings at the front of your mind: First, type in the name of your product. Nothing works (promotion, sales, renewing listings, adding many more listings etc). Reddit and its partners use cookies and similar technologies to provide you with a better experience. Ebay used to be a great platform but now days its more of rag-tag warehouse. Now, even a single sale over $600 - the new reporting threshold - could land you with a burdensome 1099-K tax form. Sellers who have crossed out the 2 jurat certification on the Form W-9 submitted to eBay. A sole proprietor is an individual who is the sole owner of an unincorporated business. this is ion addition to them having COMPLETE control over the bank acct. They work hard and take great pride in the results like Americans used to way back in the forgotten days. there has not been a bad year like this since the pandemic happened, not 100% of buyers have a stable job and income at the moment, so the decrease in the number of buyers is obvious,you should calm down and learn about the current market more. There are many advantages to using eBay as a platform to sell stuff. I have the same thing happening to me. It's gotten so bad this month that even a Basic Store is a waste of money. like being subjected to TV commercials every hour one day a week, no thanks. No. Perhaps the horrible economy right now plays a part of this, but truthfully I am baffled. Were required by law to ask for your 9-digit SSN or ITIN for each account you have with eBay. No one is disputing the high fees, bad (for sellers) policies, and competition. Our goal is to build and maintain a safe and trusted marketplace for our sellers. Certainly it is unintended consequences but it is still very valid. In an effort to keep sellers from switching over to Amazon, eBay announced that it would reduce and simplify its fee structure in the spring of 2013, which it did to some degree. Ebay Fee = $5.40 Anyone experiencing the same issue? Someone else will create a PayPal replacement. Often a one off seller of a drum set or mountain bike would list on eBay. A 685C Letter is a letter the IRS issues to confirm an individuals name and ITIN. I feel your pain. Help us stop over-reporting and the avoidable disclosure of private information. they dont even want anything for Free anymore. What is happening is going to be brutal I am shorting this stock LOL. Ive been selling on eBay for two years now. Mark as New; Bookmark; . Other auction or sales sites dont compare to the garage sale mentality of the eBay shopper. No TIN. When I had my distributor account, 20% was the best margin that I could expect. It has really had its ebbs and flows lately. When they are in it to take a loss any small seller cannot win. just sold my graphics card outta my pc, had it listed for 450 and took a offer for 430, ended up shelling out right @ $60 in fees unreal, I wont be a seller on ebay any longer. I sold a bag for 45$ plus 11.99$ shipping cost .ebay charged taxes on me and the buyer and took 13.69 just fees 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!" This is not about complaining, its about facts. I had a break of about half a year and then I came back to selling this January. I would spend hours cleaning them and getting them with the right equipment to resell them and eBay pushed me out. government has foot in door. Compared how much others are asking for same item, it was $55 Though the fees charged to sell items on eBay are typically very minor, they can still rain on the parade of those barely squeaking by on their profit margins. 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. Etc etc. Privacy Policy. The current rate of federal backup withholding is 24%. Once eBay issues a Form 1099-K, and you file your income tax return, you can either claim the amounts eBay withheld as credit towards your income tax liability or you can get a refund from the IRS. Welcome to shareholder capitalism eBay. If you dont receive it by then, pleasecontact us. When they began pushing this my views went down to the point where the only way to sell anything was to give it away. She used to sell clothes and shoes on eBay a few years back. I got $41.52 I also buy on ebay but even that sucks. Were committed to protecting your personal data with leading edge information privacy and security programs to ensure your data is secure. Ideally, you'll find the correct category hierarchy that already exists on eBay for it. Seller gives an incomplete TIN or an obviously invalid TIN; or, 3. c. I listed it for $54 including free shipping and the item is sold in less than 10 hours. It is ebid. 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. eBay sends B Notices to the address on your eBay account. Options. Winter 2022 Seller Updates on running your business on eBay. 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%. 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. Learn more about our data security in ourSecurity Center. I have been using eBay since 2015 successfully but have noticed a slow decline with changes Ive been trying gumtree, shpock and Facebook marketplace but these are all harder to sell on. is there any other platform that you guys would suggest? Here are a few tips to taking great pictures: thats a BIG ADVANTAGE! If you've submitted your W-9 online, theres no need to send us a Form W-9 through the mail. Sales in 2022 were not affected because the IRS provided a one-year delay in the implementation of the $600 threshold. 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.