5 Nov
2003
5 Nov
'03
8:49 a.m.
--- Jay West <jwest(a)classiccmp.org> wrote:
1) If some seller sets up an auction as private (yet
it still shows up on
the listings) - the deal is that no one can see who
bid on it, or who is
currently the high bidder. In this set up, how can I
be sure the seller
isn't bidding on his own auction to drive up the
price?
You can never be sure in a public auction either
(seller using a second user id)
2) Hypothetically, say I sell an item on Ebay for...
oh... $2500.00. The guy
could pay me via paypal, or he could send me a
cashiers check. Does Paypal
report transactions to the IRS? Or more importantly,
if I sell items on ebay
all year... do I have to track all that and report
to IRS?
Yes, but you have to track all your expenses too, the
reason the IRS is not going after all the ebay sellers
is that if the sellers actually accounted for all
their expenses the IRS would have to start writing
checks, not receiving them.
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