Beware if You Want to Sell Any of Your Perfumes

I just read about this and am absolutely gobsmacked.   Please sign the form and ask your friends, family, and co-workers to sign as well.  This is nothing short of outrageous!!

"If you resell perfumes on any site, those sites are now required to report the amount you sell to the IRS regardless of the fact that you paid taxes on that item in the first place. You will still be required to pay more taxes on that item if you sold $600 or more within a year. Right now, selling sites are issuing petitions to urge Congress to revoke the new law which was sneaked into the 2020 stimulus package. The new law also exposes all the personal information of the seller to the buyer. Unfortunately, it seems our elected officials don't even bother to read the bills they are voting on. If you want this new, unfair law overturned please sign the petition to urge Congress to revoke this unfair practice. Have all your friends and family sign it too."

https://www.ebaymainstreet.com... … 2022-1099K

Thanks for sharing. I read it.

Looks like eBay took down the page.  I wonder if they reversed the policy?

Thanks for sharing.

You are welcome.  I have not tried to sell any of my perfumes, so I have no idea if the law is still in force or not.  Anyone know?

For 2023 the IRS kept it at 200 sales or $20K in sales.  For 2024 you can sell up to $5K before being issued a 1099.  But that doesn't mean that you shouldn't report your sales, because we do not know whether the selling platform has issued that information to the IRS or not. The best thing to do is keep all your receipts when you buy a perfume and all the info when you sell a perfume. You might even show a loss in the end. 

Also, on all selling platforms, you can opt out of your personal info being supplied to the buyer. Inquire about it at the selling platform you use. 

Thank you for the update, Anamandy.  🙂👍🏻

eBay Main Street is a global grassroots action network that keeps you informed and engaged on public policy issues that affect ecommerce.

It’s not ‘eBay’

if you think you have it bad, try the UK. EBay will report over £1000 in sales (or around £20 a week). You’re taxed on what you earn. You’re charged VAT on anything you buy. So having been taxed on your earnings and purchases, you’re now charged a third time if you sell what you bought. And you’re taxed on your savings too. You’ll probably be taxed when you die too if you have property. 

I knew the government had to get its hooks into sites like eBay at some point.  There was simply too much money on the table.  If you want to sell off your collection, the better way to do it is through CL, FB, and sites like this one.  What they are doing to little people who occasionally sell off a few bottles out of their collections is a disgrace.