Reverb.com Payment issues

[unix-guy]

Yeah what he said. I had to fill out details for "my 1099-K" prior to Reverb actuating the payment from the sale.

Makes sense why Reverb now asks you "what did you pay for it?"....

Didn't have either of these occur with 2 guitars sold in the last few months...

 

[unix-guy]

The Sweetwater Gear Exchange has been up for awhile now. Probably almost a year? I have not used it yet, but it looks really good, and just what you would expect from Sweetwater.

As @Dave Merrill mentioned elsewhere, the name is fairly new but the actual platform has been there for many years...

 

[Kelleys Heroes]

Lots of info here, both specific to Reverb as well as of general interest re: the issue

https://help.reverb.com/hc/en-us/ar...e-the-US-tax-reporting-requirements-for-2022-

 

[Kelleys Heroes]

Didn't have either of these occur with 2 guitars sold in the last few months...

There are variables that can affect different sellers: Info they already have on file and different state tax requirements are two that I know of.

 

[xrist04]

What if I sell something and then issue a refund?


Refunded orders do not reduce your total sales for the year.

https://help.reverb.com/hc/en-us/articles/12763053152531

 

[Kelleys Heroes]

https://help.reverb.com/hc/en-us/articles/12763053152531

Doesn't really matter. The honus is on you to figure out your taxable income, regardless of what Reverb gives in a 1099. Reverb does include a dashboard which makes this easier, you can even put your cost basis for each instrument there.

 

[munkeeluke]

Wow, didn't think this thread of mine was going to go anywere!!! Anyway, Reverb had issues with my account number and now it appears to be fixed. I did contact the CEO of reverb on Linkedin, don't know if that had any influence.