Open Your Toys Cast - 234

After our shortest show in years follows one of the longest. For good reason. We cover the new 1099 rule that has gone into effect starting at the beginning of this year. Any Goods and Services transactions on payment platforms (PayPal, Venmo, etc.) totaling more than $600 will be reported to the IRS and you will have to claim it as income. Since almost all the major marketplaces (eBay, Mercari, etc.) use these platforms, the profitability of toy selling is going to take a nosedive. For the casual collector, this might be a good thing. It will hopefully mean less scalping. The margins using eBay and fee-based services had to have been razor-thin to begin with. Now they’re going to have to pay anywhere from 15-30% more on top of those fees, not to mention additional payment service fees.