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Ebay: Managed Payments...no more Paypal

Discussion in 'Marketplace Discussions' started by visolo, Nov 13, 2020.

  1. starfieldroad

    starfieldroad chew up your love then swallow

    oops, slight correction to my Amzn comment:

    Beginning on September 1, 2020, we will display a seller’s business name and address on their Amazon.com Seller Profile page. For individuals, we will display the individual name and address. This is consistent with Seller Profile pages across Amazon stores in Europe, Japan, and Mexico.
     
    Matthew Tate likes this.
  2. shokhead

    shokhead Head shok and you still don't what it is. HA!

    Location:
    USA
    No more paypal, no more me buying on E-Bay since they sent me that e-mail.
     
    Matthew Tate likes this.
  3. Bobsblkwax

    Bobsblkwax Forum Resident

    Location:
    NorCal
    You know that you can still buy with Paypal?

    I haven't had any issues with the managed payment system up to this point. I actually prefer that they take their cut right away since I never liked getting those big commission invoices anyway.
     
    Matthew Tate and JohnBeas like this.
  4. kwadguy

    kwadguy Senior Member

    Location:
    Cambridge, MA

    While that's the theory. The practice is that no small seller hobbyist who doesn't receive a tax form reports that income. With the move to issuing 1099-K to pretty much anyone who sells on these platforms, everyone will have to deal with this (> $600, and that INCLUDES shipping costs and does not get reduced for refunds and returns: Sell a used guitar for $500 + $100 shipping, and the buyer returns it? You still get the 1099-K). Even if you lose money on your eBay sales, you now still have to deal with reporting the "income" on your taxes.

    Oh, and the IRS/Congress was in a big rush to get these 1099-K forms, but didn't bother to actually make it easy to report that income. There's no focused 1099-K income worksheet. Because...why bother doing the entire job? So you'll need to decide HOW you want to declare that income, and how you want to indicate the cost basis. And whether you'll want to declare it as self-employment.
     
  5. kwadguy

    kwadguy Senior Member

    Location:
    Cambridge, MA
    If you move to eBay Managed Payments you A) Still accept PayPal and B) can still pay with PayPal. It just goes through eBay's middleman hands (at no additional cost to buyer/seller relative to the way it was before).
     
    Matthew Tate and starfieldroad like this.
  6. shokhead

    shokhead Head shok and you still don't what it is. HA!

    Location:
    USA
    Good to know. Thanks!
     
    Matthew Tate likes this.
  7. shokhead

    shokhead Head shok and you still don't what it is. HA!

    Location:
    USA
    :righton:
     
    Matthew Tate likes this.
  8. shokhead

    shokhead Head shok and you still don't what it is. HA!

    Location:
    USA
    Updated my AMEX but didn't find paypal anywhere.
    Found it, done, Thanks again to all
     
    Last edited: Jul 22, 2021 at 2:41 PM
    Bobsblkwax likes this.
  9. hardknox

    hardknox Forum Resident

    Location:
    Earth
    Given that ebay now asks all sellers for their SSN, what are the chances that they will jump the gun and send 1099-Ks to all sellers in 2021, irrespective of the current $20K cut-off? Ya know, they can say it's just "practice" for next year when it's actually required. :rolleyes: Many sellers are scrambling to sell off goods this year before the new limit kicks in.
     
  10. Matthew Tate

    Matthew Tate Forum Resident

    Location:
    Richmond, Virginia

    where is this located? I can still accept paypal as payment ?
     
  11. kwadguy

    kwadguy Senior Member

    Location:
    Cambridge, MA
    When eBay manages payments, buyers can pay using credit, debit, and gift cards; Apple Pay, Google Pay, PayPal, and PayPal Credit.

    eBay is managing payments
     
    Matthew Tate likes this.
  12. Matthew Tate

    Matthew Tate Forum Resident

    Location:
    Richmond, Virginia
    but they still want my info right?
     
  13. kwadguy

    kwadguy Senior Member

    Location:
    Cambridge, MA
    eBay? Yes. eBay requires your personal info (and an attached bank account into which they can transfer your money). The buyer is paying eBay and does not require your personal info.
     
    Matthew Tate likes this.

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