But I closed that acct w/Chase about two months ago, went to Wells Fargo, hated it, returned to Chase and now have a new bank account number w/ a new debit card number. The IRS has a series of thresholds determining whether someone is an employee or an independent contractor. I actually spat out my tea at the time, unable to hold in my laugh. A 1099 is an "information filing form," used to report non-salary income to the IRS for federal tax purposes. on 9/26/15. It's not for lack of trying. Chanel Silva until it's delivered, i cannot generate a return request. Monise S. When a lender cancels your debt, you no longer owe any money to the lender. Believe it or not this dress and likewise many other items were rejected by ThredUp. The only option for the men's clothing box was 10 lb at $50. I contacted customer support so they could look into it. Since items can be significantly higher on thredup due to the very low payouts for sellers it actually has everything to do with your question. The items that didnt pass ThredUps rigorous inspection would be donated to charity. $10. A two-way e-commerce for smart and sustainable shopping. According to the thredUP website, it takes 1-3 weeks for your Clean Out bag to be processed and have your items listed online. If you continue browsing we consider you accept the use of cookies. You can download financial statements from your Robinhood account. If you're looking to get the most money possible for high-end items, it's probably not the most lucrative option. Our 1099 filing software makes it simple to create, issue, send and e-file your 1099-NEC, 1099-MISC and more. An SSA-1099 is a tax form we mail each year in January to people who receive Social Security benefits. If you want to ensure you get all your items back, you have to pay $10.99 for "return assurance coverage." Without this coverage, ThredUP keeps the clothing they don't plan to use, citing that it's too expensive to mail it back to you. I've given this site three chances to prove themselves, but I've come to the conclusion they're just a money laundering site at the customers' expense. It helps me purge my clothing. The grand total I made off ThredUp was $35.46. thredUP store credits will be refunded back to your account 5-7 days after thredUP has received your return order, while credit card refunds can take an additional 3-5 business days to be refunded. However what I was NOT prepared for was the huge number of items deemed unfit to sell. The online store thredUP, which has its headquarters in San Francisco, California, has created a sophisticated resale experience on one of the largest online marketplaces for women's and. For instance, if your item's selling price is from $5 to $19.99, your payout would be 5% to 15%, if it's within $20 to $49.99, the payout would be 15% to 30%, and the list goes on. 1099s are information returns, and often the person or company filing them does not withhold taxes from these types of payments. I'd say it's more of a charity than it claims. This is what they sent; At the end of each year, it is the employer's responsibility to provide a completed 1099 form to the person they pay. as well as other partner offers and accept our. You do not need to issue a 1099-NEC or 1099-MISC for credit card payments as listed below. Items were unclean or stained Subscribe to our newsletter. thredUP keeps track of all incoming clothing to sell through their $10 Clean Out Kits. It was just a dress! reports the sale or exchange of real estate. Please contact them if you can for me to restore my account with them and get my $10 that they owe me - interesting that they still send me emails for deals on the site! Below are links to frequently asked questions about the Form 1099-K including general information, reporting requirements and filing the form. If you hire a non-U.S. citizen and they work for you inside the US, you must file a 1099-NEC, assuming the transaction meets the other filing requirements. When eligible items sell, cash out or get shopping credit. It is too long by 1/2 inch at least. ThredUP told Business Insider that the company found charities often do not have the resources or time to sort through and distribute the clothing they receive, so the company decided to turn clothes into cash for organizations that don't normally take clothing donations. I would like a response to my inquiry! As required by law, Crypto.com will also provide a copy of your Form 1099-MISC to . And no you cant add your own description like Ebay or Vestiaire Collective. You can send in women's, men's, and kids' items. Unfortunately, I give a big thumbs down to thredUP online consignment site. Email us at reviews@businessinsider.com. When this happens, they report the income on, Banks and other financial institutions report dividends and other distributions to their clients on. Banks and other financial institutions report dividends and other distributions to their clients on Form 1099-DIV. Here's the final takeaway: LLCs will get 1099-MISC forms as long as they're not taxed as an S corps. We do not have access to detailed information, but the reasons provided were: Many types of payments are exempt from needing a 1099, including personal payments and total payments to a vendor under $600 for the year. I have no gift card and cannot get them to answer where that gift card is. My fabulous Antik Batik boho maxi dress is bang on trend with not a single sequins missing! ThredUp is an online consignment shop that focuses on gently used clothing and accessories for women and children. I would check at least daily if I wanted to get one of the most popular boxes. If you buy them, we get a small share of the revenue from the sale from our commerce partners. Quality 575. x, Julie | thismainlinelife.com, Yep Ebay is better for making money theres no doubt about it , Dang! The key is that these must be personal payments and not business payments. "I blew it; I made too much money," she said. When I contacted support, after MUCH searching and run around to do so, I was told "I see that your return was refunded as thredUP credits because whoever created the return, selected thredUP credits as the preferred refund method." 3.8 670 Reviews. Id stick with Ebay for anything I sell in the future; Ive never gone wrong with them. You get to know your neighbours and there might be some nice clothes in it for you. I want a a refund or my shoes! Send a 1099 for payments to corporations only if the payments are for medical, health care, legal or fishing activities. Get $10 when you try ThredUp for the first time! Finally almost six months after sending my clean out kit to ThredUp, I received my last credit of $6.23. So, you better be ready for that as well. Though for luxury items which fetch as much as 80% commission of the sale, thredUP may still be a contender. My Hunter boots were not even listed, they were stolen the minute they arrived. [protected] Which means that the hypothetical $50 blouse in my closetwill get an even lower payout than I initially anticipated. In truth thats thepoint as well as the problem with ThredUp right there,in a nutshell. Thats the risk you take by giving them carte blanche on your listing. However, if they perform all of their work outside the US, you are not required to issue the 1099-NEC. Learn more here about payouts, and learn more here about selling luxury items. Fortunately, the IRS always provides the dates in, General Instructions for Certain Information Returns. We inspect, photograph, list, and ship items for you. But the IRS lists several exceptions to this general rule, including how much you paid and whether you are in a trade or business. They are VERY rude and dismissive when you try to ask about anything. We operate independently from our advertising sales team. Seeing as that's not what they do, never shopping with them again hurts them more than me. For example, for a 1099-NEC form filed in 2022, all of the deadlines were 1/31/2022. Hi, However, THEY ARE Like most of the complaints before me , I also never received a refund for a dress I purchased. It reports the income paid to the independent contractor or freelancer. If thredUPopts to sell your item, you get a cut of the sale. Although the fact they do makes buying from them a completely different experience. When you pay a corporation, you are not required to send it a 1099. Michelle Tyler blog uses its own and third party cookies. I would like my money sent via the paypal I have set up through their website, Refund not issued to my credit card as stated in your policy, refund return amount to my the credit I used for my purchase. And it was impossible to see this in any pictures by the way. Which makes sense, because very few people will be shopping for a new winter coat in July. Why ThredUP Form 1099-B (Proceeds from Broker and Barter Exchange Transactions) reports the sale of stocks, bonds, mutual funds, and other securities. You actually have to pay the site to accept your clothes. i would like to talk to the customer service representative, Read full review of thredUP and 1 comment, I would like to be able to use the store credit or have the money returned to my account. While I was able to work with the Thred Up customer service to stop the sale and shipment of goods, I was NEVER refunded the money. I have no gift card and no money now. You can think of them as an online consignment or thrift store that allows people to buy or sell used clothes. I have used ThredUp for several years and had good experiences when they first got up and running. This takes you to a page where you can either sell or donate your clothes. Click here to get notifications about new complaints of thredUP. Well to be fair Lisa, I dont think the company is doing anything dodgy at all. We cannot change refund methods after the return has processed The last box I sent in included a Burberry coat. Shop the ThredUp Black Friday and Cyber Monday sales. Merchandise Return # 4516062 To use the service, I ordered a Clean-Out kit from the site, picked it up from my mailbox, filled it with clothes, and scheduled a USPS pickup at USPS.com online. Please DO NOT add attachments that contain your or other peoples personal information, if you dont want it to be visible to the public. For example I had a suede dress listed that wasnt described as suede or even leather. Claim it and get a lot of features. We do the rest! A builder is generally considered to be a contractor, and payments to contractors are not reportable on a 1099 (with a few exceptions). It seems INSANE that that much clothing got you so little money. NEVER AGAIN :(. The IRS has a variety of 1099 forms to cover all of these and other scenarios. I know, bear with me Heres how it works step by step. To learn more about our refund options please check out this FAQ. I just decided to sell to threadup for the first time. Payment Card and Third Party Network Transactions (Form 1099-K), Rents, profits, or other gains (Form 1099-MISC), Commissions, fees, or other payments for work you do as an independent contractor (Form 1099-NEC), Payments by brokers/barter exchanges (Form 1099-B), Distributions from any retirement account, Distributions from an employee stock ownership plan. But for a 1099-MISC form (with no data in Boxes 8 or 10), the recipient deadline was 1/31/2022, the paper filing deadline was 2/28/2022, and the e-filing deadline was 3/31/2022. When a 1099 form does not match a W-2 filed by the IRS, the IRS uses it to track payments. And you could get your unlisted items back from thredUP, but that service costs an additional $11 and you have to pay it when you order your CleanOutKit, which makes the added cost even more of a gamble. Total scam. While I was able to work with the Thred Up customer service to stop the sale and shipment of goods, I was NEVER refunded the money. Mail your kit Once you have filled up your kit, just place it in the mail using the prepaid shipping label. I bet they dont give to charity, perhaps they sell these pieces on, just not on their site? Does ThredUP still offer them? Did you rake in the cash or walk away from the experience feeling completely deflated? Now you might wanna scroll back to see how full that bag of clothes I sent them was before I shock you with the stats. And thats alright by me. But what if you do handyman work for your neighbors business, Main Street Realty, LLC, and the business pays you $5,000? Desired outcome: I like it and it is nice to get alittle something back with all the money on clothing. Desired outcome: Disclosure: This post is brought to you by the Insider Reviews team. Maybe you have an even better tip to turn your gently used clothes into cold, hard cash. Buyers took a quiz to determine their style and received a box of ten handpicked items designed to suit their looks. You actually have to pay the site to accept your clothes. For more than 15 years we have helped nearly 50000 customers resolve their issues and will never stop striving to ensure further improvements on our platform for a better communication between companies and customers. Even worse, your clothes will not automatically be returned to you if ThredUP does not accept them. So as a freelancer, or independent contractor doing work for a business, you get a Form 1099-NEC. To power this marketplace, thredUP built an infrastructure that has recirculated 100 million unique g. Learn more Jobs We were not able to detect your location. It's the right thing to do from a humane and ecological perspective, but it's not always easy when you live in an urban center with no personal transportation. Like many clothing retailers, ThredUp saves some of its biggest deals of the year for Thanksgiving weekend (Black Friday to Cyber Monday). Also, corporations (S Corps and C corps) don't require a 1099. So at the end of the year, you'll send them a 1099-NEC tax form. All in perfect condition, with years of styling enjoyment left, the thought of another fashionista buying them at an affordable price makes me very happy indeed. 30%. Im going to report them to BBB. Can an employer get in trouble for not sending a 1099? Thank you for your excellent field work, detective! thredUP's Return Policy I wear a size 11, but frequently buy size 12 if I think they may run smaller and being made and purchased directly from China, I ordered them thinking, at the least they will be a size 11. Reporting. Five items were sold on consignment ($24.95), and the remaining eight were purchased outright ($9.99) for a total of $34.94. The person or company sending you the money is responsible for filing a 1099 with the IRS and sending you a copy to file with your tax return. This complaint was posted by a verified customer. Your return is complete and your credit of $144.21 has been processed. For example, imagine you are a business that hires others to help provide your services. Your kit will be processed typically within one week of being received. And its funny they don't accept some items that are new while they send me stuff that has been torn or cut with sizors. When a lender cancels your debt, you no longer owe any money to the lender. Basically a win win in my book. 3.) Seriously, worse than selling used books, and these . Then again, thredUP might not be the gold mine that it sounds like. Often they must spend their money on your behalf while doing work for you. Fill a bag with women's or kids' clothes from brands like Lululemon, Zara, J. If you paid a freelancer or independent contractor less than a total of $600 for the year, you are not required to send them a 1099. For example, if a business hires a freelancer for a project, it's important they send a 1099 . We aredefinitely in tidying mode at the Gavin household especially when it comes to closets and storage space. I have been stashing away some of my better brand, lightly worn clothing for resale and was considering ThreadUp. Im also going to address the elephant in the room and point out that I am most definitely not pregnant in these photos. Refund never received. I reckon they could be reselling elsewhere and I cannot believe that your AB dress was rejected????? Please try again. Its an excruciating length of time to wait if you need the money plus youre paid as and when something sells, not in a lump sum. reports information to the IRS when companies pay dividends or interest. Employers can be subject to an IRS fine of $50 or higher for failure to give you a 1099. I was issued a store credit, not a refund. Nope. Boxes are not necessary.