PayPal and friends and family?

[SilentSquirrel]

Agreed AR1911

Allow me to add that PayPal calls it Friends & Family for a reason

The service is intended to send money to people you trust

Not always true of friends and family of course

But that's a different issue.



Ed

 

[optimal123]

When a classified is listed as or best offer, I typically offer less, 10% at least. Then the 3% you pay is covered in the price reduction. Or just offer them asking price and ask them to eat the 3%. Most people will balk at them covering the cost of the paypal fee but will jump at an offer 10% lower than their asking(when it's obo). It's strange, but that's what we humans are.

 

[NOBULL]

Pay the 3% its not worth the risk unless you know them 

 

[viperjoe]

It looks like paypal now wants to send you a 1099 form if you receive money for goods and services.

 

[SilentSquirrel]

It looks like paypal now wants to send you a 1099 form if you receive money for goods and services.

viperjoe

It's not that they want to.

They are required to report sales with a yearly total of $600 or more to the IRS

And also to provide you with a 1099K

Saying they want to is akin to saying you want to pay your taxes

 

[AR1911]

Paypal keeps reminding me I need to complete my info, which means they want my SS#. I assumed they wanted that so I could sell my cryptos in my account (and pay the taxes).

I had not heard about sales. As a retired senior, I am selling off a lot of things that I acquired when I was making good money. I am not intentionally profiting off these things, just trying to recoup what I have in them so it's not taxable. If I get a 1099 I'm not going to be happy about that. 

Hmmm now I wonder if that is why ebay has required my sale payments to go to a bank account and not Paypal.....

 

[viperjoe]

I try to sell my stuff local by marking it down to what I would net selling on eBay but last week I sold some cell phones and if the eBay % isn’t bad enough they charge you the fee on selling price plus the sales tax. What a rip off.