Magical Chase CIB for offer over at Nintendo Age...

[chany60126]

A couple years ago after posting a WTB Laseractive thread, somehow I received a mysterious email to my personal email account from a guy with a bunch of LA stuff.  It was the most unsafe transaction I ever made, but I threw a few hundred dollars the guy's way and he delivered the games as promised.  If I would've used ebay, same items would've cost me double what I paid...  that is if I even was able to find Blue Chicago Blues.

Very similar thing happen with my Daytona Netlink and all worked out.

Moral of the story is that sometimes you have to take a horrible gamble to get a deal.  So far it seems humanity is full of kind folks and I believe that 90% of the time it will work out.  Aka- I am an idiot.

If he's holding out for thousands, then there's no excuse not to setup a PayPal account or do something with some security.

This is just pure speculation, but perhaps he doesn't want to use PayPal because of possible tax implications. If you receive a certain amount of money related to PayPal sales receipts, you will receive a 1099-K form at the end of the year that you will have to claim on your personal income tax return, mostly likely as business income on Schedule C..

The threshold for paypal to send your info to the feds is $20,000. However, you are still supposed to pay taxes on any profits from ebay or internet sales.

Yeah this is true. But then again, I am sure most people choose to fly under the radar..

I could definitely see that boxed Stadium Events selling for $20,000 or more. That would be quite a bit of taxes to pay, both ordinary and self employment taxes.

[DarkKobold]

Yeah this is true. But then again, I am sure most people choose to fly under the radar..

I could definitely see that boxed Stadium Events selling for $20,000 or more. That would be quite a bit of taxes to pay, both ordinary and self employment taxes.

Yeah, but if the IRS decided to audit you, you'd be in for lots of penalty fees and etc.

Also, I should note that the $20,000 is gross paypal income, so your total over the course of the year. If you sold 10,000 copies of Keith Courage for $2 each, the fed would still get your info.

I'll be paying taxes on all my ebay profits this year, which will be around 30%. At least it is off net, not gross.