goopy1

Updated 1 day ago

No more Poshmark for me

$0

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Not for sale

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Why am I closing my closet? Taxes. The government didn’t require Poshmark or any other site to report earnings to the government, but they chose to anyway. The trouble and expense this decision has caused is just not worth it.

Category

Women

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Shipping/Discount

$7.97 Expedited (1-3 day) Shipping on all orders

winstondunbar likes this

19 Comments

thelilacbush what kind of discounts are you offering for closet closing?

Feb 15Reply

goopy1 @thelilacbush Hi, there is no specific discount. I have dropped the price on almost all items already.

Feb 15Reply

lisaslovelies I couldn’t agree with you more on the tax issue!!!

Feb 19Reply

goopy1 @lisaslovelies Thank you! I don’t know why more people aren’t pissed off about this. My husband does our taxes and he is giving me grief about all the extra work. It’s just not worth it.

Feb 19Reply

lisaslovelies @goopy1 not sure if there is a final verdict on this tax issue yet. Wasn’t it tabled last year to stay at the $20k sales level? But talks are ongoing to have us report any sales over the paltry $600! Really!!! We should all write to those on these committees.

Feb 19Reply

goopy1 @lisaslovelies That’s the thing, poshmark was not required to 1099 until it’s settled.I was afraid they would do it so I contacted them and was told they would only do what was “required”. But that was a lie because they did it anyway! I believe this year it’s like $5000, but the following year it’s back to $600. For selling used clothes! Then, because I live in VA, I have to buy a business license every year and now they want to tax iPad, computer, desk and office chair!!!

Feb 19Reply

lisaslovelies @goopy1 the Virginia laws sound absurd! Can depreciation help the numbers??

Feb 19Reply

goopy1 @lisaslovelies Well, when my husband called to ask because it wasn’t clear, he was told no discount for depreciation. But on the form it says there is, this is a new form that came with the business license. In VA we pay personal property tax on our cars, but taxing what they call “business machines” is nuts! I really enjoy Poshmark and I’m going to miss it but the tax part is causing friction so it has to end.

Feb 19Reply

1staluckey Sorry to see that your closing your closet but I understand 😞

Feb 27Reply

goopy1 @1staluckey Me too! I’m really going to miss it, but I also need peace in my home.

Feb 27Reply

wwknight64 I'm sad to see you go. But I fully understand. I guess I didn't sell enough to get a 1099 from PM.

Mar 06Reply

goopy1 @wwknight64 Did you sell less than $600 for the year?

Mar 06Reply

wwknight64 @goopy1 I sold over 600. around 1000.

Mar 06Reply

goopy1 @wwknight64 I’ve gotten one twice, for the past 2 years. 2022 the cut off was $600 which I exceeded, and they weren’t required to send one but they sent one anyway. This past year the limit was $20,000, which I was not even close to, but they sent one again anyway. Anyway I really enjoy it and will really miss it but, I have reached my limit with taxes and licenses and all the extra hassle involved. I wish you the best of luck.

Mar 06Reply

wwknight64 @goopy1 I wish you the best of luck too. In any new venture you should try.

Mar 06Reply

elevatedmerch this is crazy. sorry to hear it. are the items in your closet still for sale?

Apr 02Reply

goopy1 @elevatedmerch Thank you, I will miss it for sure. Yes, they are still for sale but things that are showing no interest are being deleted and donated. Best of luck to you. 😘❤️

Apr 02Reply