PayPal Tax Limit

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  • akpaintballer98
    Carpenter
    • Sep 2021
    • 415
    • Alaska
    #1

    PayPal Tax Limit

    Sorry if this is beating the dead horse for some people, but I swear I can’t keep up with the info or where to find it until I randomly search it throughout the year.

    I thought paintball BST was going to dissolve for me when I heard awhile back about the $600 dollar limit, meaning I couldn’t sell something for a loss I bought years ago without receiving a 1099-k from PayPal. Then I saw the 2025 limit went back up to $2500 dollars. Now it seems like that’s all gone and back to the old ways?
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    • KMDPB
      Poo Master
      • Sep 2020
      • 540
      • Tappahannock VA
      #2
      It's a mess. I'm in va where our minimum is still 600 even though the federal is much higher. I'm no expert but my understanding is that it's pretty much up to the discretion of the online marketplace if they 1099 you or not. With eBay and PayPal I always get a 1099 but other sites like reverb (musical instruments) I don't get one even though I've sold more than the 600 dollar minimum. If you get a 1099 you have to pay taxes at that point as it's already been reported to the IRS. My advice would be to have your deductions prepared whether you get a 1099 or not. You be surprised on how much you can write off to counter that income, things like a home office and such.
      Gas, Grass or Brass, no one rides for free...

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        • StaticShocked
          Certified Feline Herder
          • Jun 2025
          • 347
          • Indiana, USA
          #3
          As someone who only sells hobby things at a loss, that they have purchased before with money that was already taxed, I am happy to hear this has changed. It looks like eBay changed as well. 1099-K and Tax Withholding FAQs | Seller Center​

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            • flyweightnate
              MCB Member
              • Jul 2020
              • 1853
              • Dallas, TX
              #4
              I keep detailed records now... it's easy to claim a loss on paintball BST.

              Include mileage to the post office, packaging, whatever fraction of your network usage, etc.

              If you feel you can reasonably claim it, add field fees, paint, etc. used for "testing". Add tools, work benches, etc.

              You'd be shocked at how fast the other stuff adds up.
              Feedback
              www.PhrameworkDesigns.com < Nelspot, Sterling, and Phantom parts, plus the occasional big project.

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                • cougar20th
                  MCB Member
                  • Jul 2020
                  • 1083
                  • Amherst NH
                  #5
                  Awesome news, as it is looking like 2025 and for sure 2026 are years I selling alot of things. And my state is a no dales tax state.

                    Comment

                    • RPP
                      You even shooty ball Bro?
                      • Dec 2023
                      • 399
                      #6
                      Originally posted by StaticShocked
                      As someone who only sells hobby things at a loss, that they have purchased before with money that was already taxed, I am happy to hear this has changed. It looks like eBay changed as well. 1099-K and Tax Withholding FAQs | Seller Center​
                      Amen lol

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