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Be cautious of sellers wanting you to pay via GIFT


waynem
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I do gift and I've been on this site for a long time, and have good reviews on buying and selling baits. So if you have a problem with that, just don't deal with me... Simple as that... Don't be so quick to judge a book by its cover..

Darth is a stand up guy and didn't have problems with gift. Buy from him with confidence.
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This is now changing rapidly due to the new, low 1099 cap. I rely heavily on feedback now. I’ve bought and sold recently using F&F. Many seasoned sellers are only accepting F&F now. I also do an extensive search of social media history now. Most people aren’t hard to find. If they are, I steer clear. But anything sketchy at all and I’m out. 

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On 4/29/2021 at 11:14 PM, SVT THUNDER said:

This is now changing rapidly due to the new, low 1099 cap. I rely heavily on feedback now. I’ve bought and sold recently using F&F. Many seasoned sellers are only accepting F&F now. I also do an extensive search of social media history now. Most people aren’t hard to find. If they are, I steer clear. But anything sketchy at all and I’m out. 

The new $600 cap for 1099 taxes has really changed things.  I wrote the original post in this thread years back when the cap was $20,000.  For those who are not yet aware, once you receive $600 or more in PayPal goods & services you will receive a tax form and will be required to disclose the income on your taxes.  If you have all the documentation as to initial $ receipt, etc you can fill out an additional tax form and only pay taxes on the profit (if any).  But lets say you don't have the documentation for what you originally paid: then you will get taxed on what you sell it for even if you only get what you originally paid or less.  That is why folks are going to move to non-taxed methods such as F&F, money order, local sales, etc.  Just be careful who you deal with.  The vast majority of SU members are great but we have had a few scammers rip people off.

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