[DeTomaso] NPC Ebay reporting to the IRS

[boyd casey]

How can E-Bay issue you a 1099?
1. They need your S.S.# (They Don't have Mine)
2. They don't handle the money , they can't really confirm that you were
paid (Paypal can if you use paypal and Pay pal is owned by e-bay)
3.PayPal isn't really the payer, they are just transferring money *PAID* by
a third party.
4. A 1099 is supposed to be for money paid as income *NOT* for the proceeds
of a sale.
5, Technically money made by selling something would be classified as
capital gains (short term for items held less then a year, long term which
is taxed at a lower rate for items held for a year or more. If you buy
something just to sell it that is *NOT capital gains that is income BUT only
the profit* ,so it;s sale price less cost less expenses.
6. Proceeds from my investment sales are not reported on a 1099 , but
Dividends which are considered income are.
7. Not all paypal transfers of money are for items sold, so I think it will
be difficult for them to act as the accountant for the IRS.

After all ,Banks don't report every payment you pay by check, news papers
don't report items you advertise for sale in their ads (I know it's a
stretch)
We all know the IRS will do what ever they want but I don't see how ebay can
be made to provide financials unless they collect a lot more info and then
they are opening  them selves  up to the possibility of some serious
lawsuits .
My two cents. Which I will report to the IRS as a charitable donation to
POCA.

Boyd