PayPal Friends & Family listings. Why is this becoming so common?

I think most sellers now realize they are not going to have a taxable profit.

The F&F listings at market price don't seem to sell.

It seems like buyers demand around a 20% discount to take on the added risk of F&F.

I'm really just curious to hear what buyers & sellers think of this practice.

seanheis110-25-2024 4:38am

ozzy62 Details Discussions Posts This discussion Message User 3,130 posts 10-25-2024 at 11:16pm Copy Comment URL Report Comment Edit Delete +1 @lalitk @freediver I try to avoid PayPal altogether. My intention is to use Venmo going forward.
krelldog Details Discussions Posts This discussion Message User 321 posts 10-25-2024 at 11:18pm Copy Comment URL Report Comment Edit Delete I was in on the ground floor...okay on AGon 28 years. Your a complete ahole if thats what you got out of my question. And buying and selling locally before that. WTF is wrong with you ?
krelldog Details Discussions Posts This discussion Message User 321 posts 10-25-2024 at 11:19pm Copy Comment URL Report Comment Edit Delete OZZY- Are there daily limits with Venmo ?
ozzy62 Details Discussions Posts This discussion Message User 3,130 posts 10-25-2024 at 11:53pm Copy Comment URL Report Comment Edit Delete Not sure. My wife has had an account for a while, I just recently opened mine and haven’t used it yet.
lalitk Details Discussions Posts This discussion Message User 5,443 posts 10-26-2024 at 12:08am Copy Comment URL Report Comment Edit Delete @krelldog As you know, IRS requires documentation. If you bought an amp for $2500 and sold it for $2K then you shouldn’t pay any tax cause you actually took a loss. I keep records of all transactions upto 5 years. I prepare an excel spreadsheet each year of all of my purchases and resale transactions and keep it handy for IRS.