Quick question - 200 transactions on Stripe, is that equivalent to 200 withdrawals from Tradesy? Or do does it mean 200 sales transactions with buyers?
Anyone Ever Buy and/or Sell on Tradesy?
- Thread starter iluvmybags
- Start date
That's great. I won't do that.
I believe someone said it was withdrawals.
I'm not sure of Stripes requirements. I withdraw to pay pal. Only aware of their policy.
For some reason I can't seem to see how much money I've sold this year. Did they take this feature out? I only see what's pending, what's available for withdrawal and how many number of sales I've made since opening my account.
I second that. For Etsy, PayPal, stripe and most likely Tradesy $20K+ OR 200 sales will be reported, i wouldn't rely on what Tradesy reps tell you on the phone (struggling actresses in Santa Monica with ever changing Tradesy rules).
Now. you need to report every cent of PRIFIT to IRS, it doesn't have to do anything with if it's hobby or not. If you sell any personal item (not as a business) and made $1+ profit you need to report it, it's stated in tax form footnotes and was confirmed by my tax accountant.
Personally I don't sell at profit, it's either a bit used bags at loss or new at face value.
My accountant also confirmed that if I am selling at a loss (e.g. selling my own bags for less than I purchased them for), then you I not have to report this.
I wonder if this includes what was paid in tax/shipping/customs fees?
Of course it does. Your cost is what you actually paid. When you sell an item, your profit, if any, is when you subtract any fees, postage cost, and the original amount you paid for the item from the amount you received for the sale.
Hey ladies, an update on my case.
I'm able to access my account now and withdrawal my money as well.
all is good!
Although it is after more than two weeks of waiting and calling. :/ not the experience I would want to have at all.
Thank you all ladies for supporting me.
For whoever were mean and rude, I have nothing to say to you at all. Maybe you should be a better and smarter person next time
I'm able to access my account now and withdrawal my money as well.
all is good! Although it is after more than two weeks of waiting and calling. :/ not the experience I would want to have at all.
Thank you all ladies for supporting me.
For whoever were mean and rude, I have nothing to say to you at all. Maybe you should be a better and smarter person next time
Before accepting this info from Tradesy as gospel, I would verify with your accountant. I'm pretty sure it's TRANSACTIONS and not just withdrawals/payouts. It sounds like they're like ebay and doling out misinformation.
Any incoming payments made for goods/services count toward the 200 transactions.
The IRS code is 6050W and applies across the board. It's irrelevant whether the monies are transferred out to paypal or not.
https://www.irs.gov/irb/2009-10_IRB/ar09.html
I actually did and it is indeed 200 withdrawals. Believe what you want lol..... This is the information im going to use. This is a forum of course the more reliable source will always be your own accountant
There's never been a ytd sale total, the total is all of your sales. You have to manually add your sales for this year using a good 'ole calculator.
No, I remember before this big change I was able to sell how much I've sold. There was a total, an exact total. And now I can't seem to locate it or they've removed that function.
Never mind, found it. It's inly viewable on mobile not desktop. If you go to sales under mobile, it'll show you "total sales".