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#4,966
Btw, the 1099-K will be just one more form you have to include when doing your taxes. Most of us who are selling aren't likely making a profit, just unloading stuff we no longer need to recover some of the original cost. You will just have to include these 1099's on your tax return, showing the sales proceeds from the 1099-K's and then showing the original cost of the items sold. Most likely, this will result in a loss (which will be not deductible) so your selling won't likely impact your taxes.

It is a hassle though and is very, very intrusive. You can't even sell a few personal belongings without having to disclose in detail what you bought and how much of a loss you took. Some people also might not like having to disclose to their spouses how much online selling they've been doing and it's going to be right there on their annual tax return.
 
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#4,967
youngster said:
Btw, the 1099-K will be just one more form you have to include when doing your taxes. Most of us who are selling aren't likely making a profit, just unloading stuff we no longer need to recover some of the original cost. You will just have to include these 1099's on your tax return, showing the sales proceeds from the 1099-K's and then showing the original cost of the items sold. Most likely, this will result in a loss (which will be not deductible) so your selling won't likely impact your taxes.

It is a hassle though and is very, very intrusive. You can't even sell a few personal belongings without having to disclose in detail what you bought and how much of a loss you took. Some people also might not like having to disclose to their spouses how much online selling they've been doing and it's going to be right there on their annual tax return.
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Fashionphile can barely manage to do the job they are supposed to do. I won't be giving them my SSN. I've been selling what I need to before the end of the year. I keep careful records of what I buy and sell for and don't make a profit annually.
 
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#4,968
I am in the same boat with everyone else on the ACH payments. Received email from @fashionphile on Tuesday Sept. 28 that my payment had been initiated. As of today, 10/1, nothing has been deposited. I have sold them many bags and always have the money the day after notification of payment. I sent them an email and they replied indicating it could take 5 business days...Concerning.
 
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#4,971
Kahla said:
I am in the same boat with everyone else on the ACH payments. Received email from @fashionphile on Tuesday Sept. 28 that my payment had been initiated. As of today, 10/1, nothing has been deposited. I have sold them many bags and always have the money the day after notification of payment. I sent them an email and they replied indicating it could take 5 business days...Concerning.
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Me too. My payment was initiated on 9/28, but nothing yet. My bank said I should see it by Monday or Tuesday. I hate the new waiting game.
 
#4,972
Kahla said:
I am in the same boat with everyone else on the ACH payments. Received email from @fashionphile on Tuesday Sept. 28 that my payment had been initiated. As of today, 10/1, nothing has been deposited. I have sold them many bags and always have the money the day after notification of payment. I sent them an email and they replied indicating it could take 5 business days...Concerning.
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Oh no, mine was sept 27 been initiated and until today oct 1st not posted . I went to bank and ask , bank told me if until Monday still did not receive payment I should contact fashionphile again . I hope mine clear soon .
 
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#4,973
Kahla said:
I am in the same boat with everyone else on the ACH payments. Received email from @fashionphile on Tuesday Sept. 28 that my payment had been initiated. As of today, 10/1, nothing has been deposited. I have sold them many bags and always have the money the day after notification of payment. I sent them an email and they replied indicating it could take 5 business days...Concerning.
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Mine took from the 22nd of Sept. to Oct. 1 ; 6 business days and 9 days total. I was shocked it took that long considering it was always within a day, before whatever change they have made.
 
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#4,974
Wow that’s a long time. Mine was 1-2 business days before, I first thought just because I changed bank lately. I hope to see the payment tomorrow since it’ll be 5th business days or 7 days total if weekend included. .
 
#4,975
ccbaggirl89 said:
Mine took from the 22nd of Sept. to Oct. 1 ; 6 business days and 9 days total. I was shocked it took that long considering it was always within a day, before whatever change they have made.
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That's way too long. I used to like the convenience of direct deposit, but if it's going to take a week I'll just sell to Yoogi's and get my PayPal payment in 1-2 days.
 
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#4,976
did you get yours today? I have not as today:-( Sigh…
Don’t know what to do now. It has been total 7 days and 5 business days.


QUOTE="Kahla, post: 34783874, member: 483207"]
I am in the same boat with everyone else on the ACH payments. Received email from @fashionphile on Tuesday Sept. 28 that my payment had been initiated. As of today, 10/1, nothing has been deposited. I have sold them many bags and always have the money the day after notification of payment. I sent them an email and they replied indicating it could take 5 business days...Concerning.
[/QUOTE]
 
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