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Considering PWCC

tonylagstonylags Posts: 572 ✭✭✭
edited October 18, 2018 2:56AM in Trading Cards & Memorabilia Forum

For some HE stuff.
I think they pay via paypal, is that correct? And has anyone consigned to them for greater than 20k & received a 1099 from Paypal as a result of proceeds received from PWCC?

I have to much S**t; so if you working on sets or are a player/team collector, send me your want list, with conditions desired. Keep in mind I have a another job so please allow me a few days to respond.

Comments

  • 1951WheatiesPremium1951WheatiesPremium Posts: 6,390 ✭✭✭✭✭

    I have a ‘First time’ thread going right now.

    I think it is Check or PayPal - I think the default is check as I believe PayPal will take their cut in addition to that of PWCC if you go that route.

    Not positive on that but I will receive a check, anyway.

    My consigned lot did not eclipse that mark - I hope you do.

    Good luck

    Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?

    https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest

  • secretstashsecretstash Posts: 1,396 ✭✭✭✭
    edited October 18, 2018 4:20AM

    They pay friends and family with no fees via paypal. This supposedly dodges the 1099 too since a gift. But I am not a tax expert.

  • MrHockeyMrHockey Posts: 555 ✭✭✭

    The default is funds kept on your PWCC account.

    You can also get a check or PayPal. When paid via PP, there are no fees, so it’s not going to trigger the tax reporting. However, you certainly still do technically owe on gains.

  • tonylagstonylags Posts: 572 ✭✭✭

    Thanks all.

    I have to much S**t; so if you working on sets or are a player/team collector, send me your want list, with conditions desired. Keep in mind I have a another job so please allow me a few days to respond.

  • tonylagstonylags Posts: 572 ✭✭✭
    edited October 18, 2018 4:21PM

    @secretstash said:
    They pay friends and family with no fees via paypal. This supposedly dodges the 1099 too since a gift. But I am not a tax expert.

    @MrHockey said:
    The default is funds kept on your PWCC account.

    You can also get a check or PayPal. When paid via PP, there are no fees, so it’s not going to trigger the tax reporting. However, you certainly still do technically owe on gains.

    I understand their are tax consequences on any gains, which I am fine with and have no problem paying; but the 1099 is what I am really concerned about. I already get one from paypal and wanted to know if these proceeds would be added to it, which makes things complicated since these are from my PC. I guess if it's F&F; there is none, but I need to call them both to confirm. again, thanks for the help.

    I have to much S**t; so if you working on sets or are a player/team collector, send me your want list, with conditions desired. Keep in mind I have a another job so please allow me a few days to respond.

  • MrHockeyMrHockey Posts: 555 ✭✭✭

    Why not just call them, then, instead of starting this thread?

    You asked, we answered, then you were like... nvm.

  • tonylagstonylags Posts: 572 ✭✭✭

    @MrHockey said:
    Why not just call them, then, instead of starting this thread?

    You asked, we answered, then you were like... nvm.

    My bad, and thank you for your answers

    I have to much S**t; so if you working on sets or are a player/team collector, send me your want list, with conditions desired. Keep in mind I have a another job so please allow me a few days to respond.

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