I was going through all my records from this year and checking them against my blog. If you haven't already done so, you need to keep records of your purchases (and sells). Apparently, the latest Covid19 Relief Bill passed by Congress included some sneaky details that had nothing to do with the pandemic. One of those details is that PayPal/E-bay must start issuing 1099 forms for all sales over $600 starting in 2022. That's right gentle reader.
Fortunately, I started keeping a spreadsheet of my collection in 2015. I keep up with what I pay for a doll, taxes, and shipping. I also keep up with doll sales with E-bay/PayPal fees, and shipping costs.
My first resolve for organizing my collection this summer was that I wasn't going to buy any more dolls secondary market. (That will probably change after the convention releases.) As luck would have it, I finished my collection from the 2020 IT Legendary Convention this spring when prices settled down a little after the holidays. Here is a quick look at those purchases.
#16 of 2021
Not Pretending Eden Blair
#17 of 2021
Fierce Zuri Okoty
#18 of 2021
Style Legacy Isabella Alves
#19 of 2021
Body of Work Isha Kalpana Narayanan
#20 of 2021
Celebration Aymeline
#21 of 2021
Lovely in Lilac Poppy Parker
#22 of 2021
Black Tie Poppy Parker
It's hard to believe I accomplished this in the first few months of 2021. (Unless you look at my credit card debt; then it is apparent how I did it!) In addition to the last six Legendary Convention dolls added to my collection, I also picked up a couple other girls.
#24 of 2021
This doll rarely shows up on secondary market. She is from the 2010 IFDC Convention collection, Curiouser & Curiouser Alice - Dynamite Girl Gavin. Her edition size was only 300. The ensemble is amazing in detail.
#27 of 2021
Colette Duranger (mold 1.0) is one of my favorite characters Integrity Toys has ever produced. I initially passed on Lost Angel Colette Duranger because she has purple irises. I've always considered adding her to my collection and getting her eyes repainted. She recently turned up on secondary market at an excellent price. She was "Mint in Box" with her complete ensemble. I took the plunge, knowing that she would require a body change. This is a photo of her redressed.
So ... I am almost caught up. That completes my list of secondary market dolls purchased in 2021 (so far). My Sales vs Added lists are actually balanced at this time: 27 in/27 out. I realize I have several dolls on pre-order, so I need to get busy sorting.
2 comments:
hello, I'm really impressed that you may have on the secondary market. I must admit that I also sometimes buy on the secondary market. last year I bought only one because it was sold out when it was released. it's frustrating. then instead of having it at the regular price, you have to pay double. it's so frustrating. congratulations for your new dolls 🎉🎉🎉
I would like to add a comment to yours about the 1099's for any sales over $600 beginning in 2022. Many of you may already know, but this amount has been changed from $20,000 to $600. That is a huge difference from what it has been in the past. This law was passed recently, so it is a very new thing. This reads big trouble for folks like me who like to sell from time to time, but get far less than we pay out for our dolls, other than a few ultra lucky sales lately.
https://blog.tax1099.com/major-changes-to-1099-k-reporting/
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