Folks Of Interest SCAMMER, Buyers Beware of Instagram Post

No ****??? I did not know that.

 

Yep, the warnings have been out there for long enough to have sunk in. This **** is not new.
I guess the attraction of buying without having to get out of your pyjamas is just too irresistable for some....

 

You wear chones when swip'n the cl***ifieds? Damn. Fancy living down under!

 

If ordering pizza, yes.
If buying cars and parts..........NOOOO! I'm on their doorstep for that...

 

Wanna have some real fun? Ask them if a part has the (fill in your best mess) mounting system or some such nonsense.

I took one of these mopes for a bull baloney pony ride once over a 9" Ford housing. I told him there's a specific tube carrier that makes them fit GM intermediates during a time when GM was buying high performance axles from Ford. Hook, line, sinker, sunk. Several others teamed up on his dumb *** and within days the account was deleted. IG moves either very slow or not at all when flushing out scammers in the hot rod community, but say the "see you next Tuesday" word even spelled wrong and you get a 24hr, then 1 week, and then a 30 day freeze out...within seconds (don't ask how I know).

 

Haha he just blocked me for commenting on his post and reporting him

 

I commented that it was a scam and haven’t gotten banned yet.

 

does paypal send out a 1099 or other tax form or are sellers on the honor system and supposed to keep track of all transactions. if paypal is reporting it to the IRS, then they are responsible to let the taxpayer know exactly what is being reported via some form at the end of the year.

 

I'm not commenting on your comment. I'm LMAO at your tagline. Lol.

 

I heard that from my 13 year old…

 

... Cost of doing business these days. F&F transfers are a big red flag for me.

 

Unless they change the law again, like they did last year, PayPal, eBay, and all the other cash apps will be sending out 1099's once, I think, $600 is reached in the year. Guessing there will be a bunch of surprises in the mail if that happens.

FYI If you see an ad from a guy with a name composed of two first names, chances are good it's a scammer. Don't hurt to check their profile; some of them are dumb enough to have a bunch of Nigerians on their friends list.

 

Guys like this need to lose some teeth.

 

May be the same guy that is running a similar scam on a MoPar site too. Thanks for the warning.

 

Weird deal. 30 years ago I saw an ad in Hemings for some really desirable parts cheap. I forget how I recognized a friend in Houston. I called him up and asked about the parts. He admitted he had none of them. I suggested he not take any money. He did and went to prison. He had a wife and young daughter. Saw them all much later at a swap meet.

 

This was a few years ago.......
So this guy that I don't know personally asked me to send a payment by Western Union and he would pick it up in person at his end. I messaged him back that I had sent it. (Like hell I did. )
He contacted me again that the payment wasn't there when he went to pick it up.
I told him that I apparently mixed up something in the name or code and told him to go back.
I never heard from him again for some reason.
It was a small satisfaction...... not enough..... but I'll take it.

 

heres something else most people dont know. If you buy an old car for $400 and sell it for $100, you are supposed to pay income tax on the $100

 

It's gotten so ridiculous, that as a now-business - *if* you had receipts for these past-eons purchases &/or trades, you would declare a loss of $300USD, + all the travel expenses - incl fuel, food, lodging, event-participation-costs, vehicle-wear-n-tear, mileage ; & oh, yes your time!, & why the hell not - storage fees too. .
Way too much fkn work...
Marcus...

 

Those of you who are not aware of Paypal, Ebay, etc, sending 1099's when you've reached $600 or better in sales should do some investigating before it bites you in the ***. I do know they can withhold taxes when the money is sent and hold payment for up to 10 days. I sent a payment (over $2K) and that's what they did to the seller

 

I believe face to face , in person visual inspection and a cash transaction is much more traditional. But I know, there I go living in the past again.

 

I just hand delivered some hard to replace parts for fuel. I met some good car people from this group.

 

Taxes are only due on the profits from a sale, if you bought some transmission for $2K and are dumping it for $1200 because you're not going to use it anymore, no actual tax is due, although you should be reporting the income. If you bought the same transmission (or whatever) at a rummage sale for $200 and you sold it for $1200, then you owe taxes on $1000 income. And you were always supposed to report that income. It's just that not reporting anything had become so rampant, the online payment companies were forced to change their policies.

 

Nah. You report the income and report the loss.

 

The HAMB has now become a Tax Consultant forum

Larry

 

On Instagram you can see this guy changed his profile name 6 times in the last 90 days and even more than that in the past. I was asking about some parts and something didn’t seem right. There’s a few pics on there that I’ve seen here on the HAMB and the ad description is the same word for word. Be careful out there this is persistent

 

Guys, this isn't some random dude scamming people. This is a group effort by street gangs in Cambodia mostly. Though, we've tracked some to eastern Europe as well. A lot of times they're actually women. They have all sorts of scam accounts. Car parts. Motorcycle parts. Concert tickets. It's bad. I'm pretty brazen about calling them out. I'll usually waste their time for a bit. That gets them real mad. Even had them send me a common internet picture of beheaded Mexicans murdered by the cartels. And that he/she was going to "drive to my house to prove he was real"(that's a long drive from Cambodia my friend!) My reply was to ask that he gave a quick text when he got off of the freeway, so I could get the backhoe warmed up and a spot picked out... I wierdly haven't heard back.

Seriously though. They're stealing old photos from here and other places. I've even seen them photoshop a piece of paper with the date on it and stuff....though done poorly enough you can tell. I'd really only try and deal with guys you know and are verified and known real dudes.

 

Too bad for this new thing it will not be true that you can deduct the original cost. The IRS has set this new category as Hobby Income, which has no basis for deduction of purchase price unless you are doing it under a business return. In other words if you spent $500 and sold for $200, you pay taxes on $200 (and do not get to take the $300 loss against gains), you spent $500 and sold for $700, you pay taxes on the full $700. This is why so many are trying to get money via PPFF. The IRS scrubbed it last year but it is in full effect this year. The good part is each of the reporting companies are individual for the $600 threshold, ebay is separate from PayPal, from Venmo ect , so get $599 from each place and stop to save taxes. I predict swap meets will make a comeback next year though I have herd talk of revenuers being at some shaking down sellers for tax money (rumors?) This is probably why the prices on eBay seem to have gone crazy this year. Folks have to raise them literally up 25% to cover the new taxes and rising eBay fees to be back to where they were last year. Its going to be bad when the DMV starts sending out 1099's to sellers when a new buyer registers a car you sold them (it aint here yet but will be).

 

See? Every cloud has a silver lining, and out of every bad situation comes some good.......

 

Do you have a source for this "hobby income" category/law? I couldn't find it in a Google search.

 

I will have to dig for where I read about the hobby income issue. But it looks like the laws were re-amended in March 2023, so my above statement may be old news by three months. These sales are now also, according to the IRS, applicable to long-term and short-term capital gains issues. You now have to keep track of how long you have had something. If you go to IRS.gov there is now listed a way to deduct cost for individuals but it involves a separate form and you have to list each item and what you paid for it vs what it sold for (and if you get audited you will need receipts for when and how much you paid). There is still no way to deduct a loss ie you paid $100 and sold for $50. You pay taxes on $0 if you use Form 8947, but you cannot further deduct the $50 you "lost" by selling for less than you purchased. This means a lot more paperwork and receipt saving. https://www.irs.gov/newsroom/form-1099-k-frequently-asked-questions-general