Closed: Abyss AB1266 PHI
Listing ID: 26113 Views: 1612
3,400.00 USD
Condition
Excellent/Like new
Negotiability
Or best offer
Ships to
  1. North America
For sale is a beloved ABYSS AB1266 PHI, I am finally letting this can go because I am downsizing my headphone collection as I am moving to a new place... It's close to brand new condition as shown in the photo. The headband was carefully handcrafted by me. The original headband is also included. The stock cable is also included are reinforced with nylon sleeves. Local pickup is available if you are in LA.









I can only accept Paypal through Friends and family, or Venmo. You might be wondering, could this be a scam?



No, it's because Paypal starts to issue 1099-k to any sale over $600 regardless it's taxable or not. Garage selling like this is usually not taxable unless you earn money selling as pointed out by the comments below. I just don't want to deal with the extra paperwork.

I am the maker and seller of the original Diana Guard and I have sold a few headphones on here...Please consider that as my credibility.
https://www.head-fi.org/threads/3d-...-protective-guard.954930/page-3#post-16281527
Listed by: reiten966 (3)
Listed: 2022-05-20
Last edited: 2022-06-08
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MHLC

MHLC

Head-Fier
Not to tread cap but I just want to point out that 1099-K doesn't mean it's a taxable event. It's just reporting that you had a reportable transaction (sell) where the proceed was $3.6k. This doesn't include your basis (purchase price) in the headphone. Unless you got the headphone for less than what you're selling, this won't be a taxable sale.

Note - 2022 tax return forms are not out yet and knowing the Federal government, we won't have tax guidence on how these 1099-K will be reported until early next year... still won't be a taxable event unless you purchase the headphone for less than what you're selling
 
reiten966

reiten966

Head-Fier
Thanks for providing more info on this, I sincerely appreciate that. It won't be a taxable event but I have to submit proof of purchase with the amount it costed me right?
 
Music Alchemist

Music Alchemist

Pokémon trainer of headphones
reiten966 said:
It won't be a taxable event but I have to submit proof of purchase with the amount it costed me right?
Click to expand...
Not unless the IRS audits you; otherwise, we'd all be giving up our basic right to privacy and letting the IRS know the details about every single one of our transactions that aren't for profit. At least that's what common sense would assume. But who knows...with this new totalitarian law, we may end up being required to report details and submit proof for every single one of our not-for-profit transactions now. There's bound to be backlash.
 
Last edited:
reiten966

reiten966

Head-Fier
Auditing doesn't sound fun lol... I rather stick with friends and family payments or venmo to avoid all these extra unnecessary paperwork...
 
Music Alchemist

Music Alchemist

Pokémon trainer of headphones
reiten966 said:
Auditing doesn't sound fun lol... I rather stick with friends and family payments or venmo to avoid all these extra unnecessary paperwork...
Click to expand...
I researched it more. Looks like when the time comes, you (as in all of us, really) report the total amount you received for the year along with the amount you lost. (So as long as it was at a loss, you wouldn't owe any taxes on it. It still needs to be reported in a certain way in the tax paperwork.)

But in order to do the math, you would need to keep track of all the transactions. (Even if you don't get audited.)

One problem is that many aren't willing to use F&F and want the protection of the goods and services option.

Other payment processors like Venmo are not exempt from the new regulations either.
 
Last edited:
reiten966

reiten966

Head-Fier
Music Alchemist said:
I researched it more. Looks like when the time comes, you (as in all of us, really) report the total amount you received for the year along with the amount you lost. (So as long as it was at a loss, you wouldn't owe any taxes on it. It still needs to be reported in a certain way in the tax paperwork.)

But in order to do the math, you would need to keep track of all the transactions. (Even if you don't get audited.)

One problem is that many aren't willing to use F&F and want the protection of the goods and services option.

Other payment processors like Venmo are not exempt from the new regulations either.
Click to expand...
Thanks for the detailed clarification, PP defaults to Goods and service whike venmo defaults to friends and family. They both have both GS and FF option cuz Venmo is owned by PP. In short, this is making casual selling second hand products a lot harder.
 
D

DrewVz

1000+ Head-Fier
This whole reporting thing seems like BS to me. Lots of sales of used crap online via PayPal are years old. There's no way to expect people to still have proof of original purchase price.

BTW, those are great looking phones. Glws.
 
reiten966

reiten966

Head-Fier
price dropped! -$200
 
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