Bike Forums - View Single Post - 1987 Team Miyata

10-11-22, 06:54 AM

#15

wrk101

Thrifty Bill

Join Date: Jan 2008

Location: Mountains of Western NC

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Bikes: 86 Katakura Silk, 87 Prologue X2, 88 Cimarron LE, 1975 Sekai 4000 Professional, 73 Paramount, plus more

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Quote:

Originally Posted by bikemig

All good points. I've been thinking of that pesky 1099 as well which is a pain especially for stuff you picked up a while ago and have no records of what you paid for.

To those that don't want a 1099 and sell on this forum instead, BAD NEWS! If you get paid through PayPal for a sale here, and the gross proceeds are $600 or higher (includes shipping), you will get a 1099 from PayPal. Its not eBay, its the new tax law that requires any payment processor to issue a 1099.

Also, even if you sell a bike here (with shipping) well under $600, but you sell other items over the calendar year, if the total is $600 or higher, you will get a 1099. Its pretty easy to hit that level.

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