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For sale For Sale: San Bartolome by Pavel [SOLD]

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lakedaisy

lakedaisy

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Jan 9, 2022
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Location
Winter Haven, Florida
SOLD


I've had this kit for quite a while. I believe it's kit #8. The kit is 3 boxes + the slipway and non painted sails. $400 PayPal Family and Friends. Buyer pays shipping. Kit is VERY heavy.
San Bartolome
I had this ship for sale before. The buyer paid by PayPal 'business'. I cancelled the sale as I would have had to pay tax on the sale.


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I'm not sure what you are referring to as to the tax. PayPal does not take taxes out of your sale. There is a 3% fee you pay, so, perhaps that is what you are referring to. If you were selling an item at a profit, you may be required to self pay taxes on any profits, but that is regardless of what payment platform you are using.

If you are referring to the 3% fee, I would suggest you simply add it to your price and most here will understand. The buyers protection offered by Paypal is well worth the 3% to most buyers...and most would never buy anything through friends/family which offers no protection....
 
No. Any transaction that is Business rather than Friends and Family is a taxable even.

I've been through this before on a prior sale. To accept the money on a business transaction one must provide PayPal with their tax number or social security number so they can report the sale to the IRS.

You can check my sales by F/F. Never had a problem. And I gave away several kits a few years ago.
 
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Will I have to pay taxes when sending and receiving money on PayPal - what exactly is changing?​

The Internal Revenue Service (IRS) announced transitional reporting requirements for payments received for goods and services. These requirements will lower the Form 1099-K reporting threshold over a 3-year period from the previous threshold of more than $20,000 in goods and services transactions and more than 200 goods and services transactions in a calendar year. We’ve summarized the IRS thresholds for Form 1099-K below.

Tax Year Year Form Available Federal Reporting Threshold
More than $5,000 USD in gross sales from goods or services in the calendar year.
More than $2,500 USD in gross sales from goods or services in the calendar year.
More than $600 USD in gross sales from goods or services in the calendar year.

For the Tax Year 2024 (form available in 2025), the Federal Reporting Threshold is More than $5,000 USD in gross sales from goods or services in the calendar year.

For the Tax Year 2025 (form available in 2026), the Federal Reporting Threshold is More than $2,500 USD in gross sales from goods or services in the calendar year.

For the Tax Year 2026 (form available in 2027), the Federal Reporting Threshold is More than $600 USD in gross sales from goods or services in the calendar year.

As stated above, in this calendar year, you would have to receive over $2500 for PayPal to complete a 1099-K on the transaction.
Again, this is for reporting just that you received the money. If you sell the item for break even or for a loss....you would not owe taxes...period.
 
lakedaisy said:
No. Any transaction that is Business rather than Friends and Family is a taxable even.

I've been through this before on a prior sale. To accept the money on a business transaction one must provide PayPal with their tax number or social security number so they can report the sale to the IRS.

You can check my sales by F/F. Never had a problem. And I gave away several kits a few years ago.
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I don't mean to imply anything.... I just know that scammers will try to use the same excuse...and it's just plain false, PayPal will never withhold income tax from the proceeds of a sale...they may report the transaction on a 1099-K form, but that is a reporting transaction only, not a tax event. It is only a tax event if you sell an item for more than you paid for it and made a profit.
 
I dont don't really care what you seem to be implying...

I've been through this. On two guitar sales and ttwo model ship sales. I will never accept a Business PayPal again. After discussiong with a representative from PayPal, they would not release the money without my social security number so they could report it to the IRS.

I have sold several ships here on SOS and given away 5 kits. If you don't have anything of substance to say about ths sale, why don't find another board to say what you need to say on.
 
lakedaisy said:
I dont don't really care what you seem to be implying...

I've been through this. On two guitar sales and ttwo model ship sales. I will never accept a Business PayPal again. After discussiong with a representative from PayPal, they would not release the money without my social security number so they could report it to the IRS.

I have sold several ships here on SOS and given away 5 kits. If you don't have anything of substance to say about ths sale, why don't find another board to say what you need to say on.
Click to expand...
Good luck Sir
 
I apologize to everyone, except gene438.

I've been on this board for about 3 1/2 years. Build several build logs, never finished some models. Have sold about 10 kits over the years to others on this board Friends/Family and gave away some to others on this board over this time.

When I placed a for sale on the board, asking for friends and family, then someone comes along and brings up 'possible fraud' twice for no reason it bothered me.
 
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Rob, i think if you reread the messages you will see that I never accused you of anthing. When you asked me to move on...I did....you now seem to want to make something out of this. Please let it go. Paypal never wanted to withhold taxes from your sales, they wanted your SSN so that if you had sales over the threshold, then they would fill out a 1099-K on you.....again, they would not withhold any money, only fill out a form...which because you did not sell your items for a profit, you would not be liable for taxes.....This is all I have tried (unsuccessfuly) to communicate to you.....you asked me to move on...and I did.....I now ask you to do the same and I wish you good luck in your sale, I'm sure it will all work out.

Gene
 
This will be an odd, unexpected post.

I am also quite sure Rob is 100% legit and honorable. I was the fellow who thought he bought and did pay for two ship kits from him a few months ago, both Pavin kits, the Bart and the Santa Maria. I assumed something I should not have. Rob was clear he wanted FF payment and I was completely fine with that, I've done it many times with no issues. However, that time I thought I'd do him, what I thought was a favor by paying an extra 3% and "business" other than FF. Rob canceled the sale and promptly refunded my payment.

Although my intentions were in the seller's favor, I am guilty of not following his instructions. I was not aware of the income tax possibilities.
 
Thank you for bringing this up bowwild. If you want this kit you can have it for shipping costs. Which will likely be quire a bit as it heavy. If you want it, send me your info by private message. The $400 isn't worth the aggravation.
 
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