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Old 03-12-2018, 07:34 PM   #1
Nappy216
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Taxachussetts

FYI - New law in MA (and VT).
PayPal now reports anything over $600.
I sold some aftermarket parts I took off my old car before trade-in. Got a nice 1099-K in the mail.

Apparently I have to pay tax on stuff I sold even though I lost money. Add insult to injury I have to "upgrade $$$" the tax software I use to handle the 1099-k.....as Iím now considered a small business / self employed.

Will never sell anything online ever again unless I leave the state. CL and cash only.

They don't call it Taxachussetts for nothing.
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Old 03-12-2018, 07:38 PM   #2
southpawboston
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Yep, I was victim of this as well.

Plus, you've gotta love paying excise tax on your GTI. EVERY. YEAR.
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Old 03-12-2018, 07:44 PM   #3
tknj99
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VA sucks as well with the yearly car tax.. makes me almost feel sorry for those driving around in expensive cars
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Old 03-12-2018, 07:46 PM   #4
typeone
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same here, total bullshit.
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Old 03-12-2018, 08:04 PM   #5
tonipepperoni77
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Taxachussetts

DONT WORRY ABOUT IT. Got the same thing and called. As long as in theory if they come after you you just need to prove what you sold it for and what it cost. You only pay on money made but you do not needs to file this if you didnít pay any money. I contacted them 3 different times to make sure it was correct and they also explain it on the mass gov website. Been talking tot hem since January and finally they updated online to explain it. No need to update your software and no need to file if you didnít make any money.

https://www.mass.gov/service-details...-party-sellers


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Old 03-12-2018, 08:14 PM   #6
Nappy216
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Quote:
Originally Posted by tonipepperoni77 View Post
DONT WORRY ABOUT IT. Got the same thing and called. As long as in theory if they come after you you just need to prove what you sold it for and what it cost. You only pay on money made but you do not needs to file this if you didn’t pay any money. I contacted them 3 different times to make sure it was correct and they also explain it on the mass gov website. Been talking tot hem since January and finally they updated online to explain it. No need to update your software and no need to file if you didn’t make any money.

https://www.mass.gov/service-details...-party-sellers


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Tony Thank You!

That link was very helpful.
It looks like they are going after the Uber drivers....not us guys that are just trying to get rid of old stuff.
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Old 03-12-2018, 08:23 PM   #7
Tronix13
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Quote:
Originally Posted by southpawboston View Post
Yep, I was victim of this as well.

Plus, you've gotta love paying excise tax on your GTI. EVERY. YEAR.


Iím about to pay that excise tax next week


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Old 03-12-2018, 09:56 PM   #8
tonipepperoni77
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Quote:
Originally Posted by Nappy216 View Post
Tony Thank You!

That link was very helpful.
It looks like they are going after the Uber drivers....not us guys that are just trying to get rid of old stuff.


Yup exactly ! Haha took me a month of digging to find this all out as since it was just passed at the end of last year even when I first called mass gov they didnít know what to do hahah but Iím glad I could help !


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Old 03-13-2018, 12:57 PM   #9
Misslauren82
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Could be worse - like Rhode Island's excise taxes.

I saved so much in insurance and excise moving to Mass. : p
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