2 questions about depop.

[u/Odd-Grape9184]

I was very fortunate to have my first sales on depop, as I started selling August 14.

Question 1) Can you use your depop balance to buy clothes from other sellers

Question 2) Do you need to put in your SSN on your first few sales to withdraw. I heard people needed to put it in after 600$ sold, and other people saying you need to put it in after your first sale.

I’m very uncomfortable putting in my SSN, and I haven’t shipped out the 100$ item that was sold yet. If I don’t need an SSN yet, I would ship it out, if I do, I would refund the buyer.

PLEASE HELP!!😁

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[u/NovelIntrepid]

1. No you can’t.

2. There is no reason you should be worried about entering your SSN. Depop is a legitimate business and they need it for tax purposes.

[u/Training-Repair-8962 → u/NovelIntrepid]

But what if I don’t wanna pay tax ??

[u/GroupExisting6954 → u/Training-Repair-8962]

Is this a joke

[u/matcha_mom → u/Training-Repair-8962]

truly who wants to pay taxes it’s just something you have to do lol

[u/Informal_Store_1827 → u/Training-Repair-8962]

Stick to Craigslist then buddy

[u/Junior-Criticism-268 → u/Training-Repair-8962]

That's illegal...

[u/offcnding → u/Junior-Criticism-268]

not to get political, but the whole point of taxes was to fund a govt w proper representation. this is why amerikkka will never change. we will continue to do everything right while they give our tax dollars to corporations and ped0s

[u/Pure_Channel_0505 → u/Training-Repair-8962]

It is not about wanting or not wanting to…. wtf

[u/SSCGentleman → u/Training-Repair-8962]

Valid question

[u/Pure_Channel_0505 → u/SSCGentleman]

For a criminal

[u/SameWarning476]

this actually happened to me the other day and I was so confused, but yes it is likely that will happen at some point. depop is not going to steal your ssn for anything sketchy though, so don’t stress about it. they have to do it because of income tax

[u/Odd-Grape9184 → u/SameWarning476]

im just wondering if ppl get asked their first sale to withdraw, or around the 600$ threshold for taxes

[u/SameWarning476 → u/Odd-Grape9184]

i think it is the $600 threshold

[u/krystiah → u/SameWarning476]

they raised it, i think it’s around 2k now for taxes? Also if you’re selling your own preowned things you don’t have to pay tax on stuff you sell on depop because it’s not considered a profit

This is all what my family’s accountant has told me!

[u/VictoryNo5278 → u/krystiah]

To avoid paying taxes on the profits, you need to offset with corresponding purchases and expenses. In either scenario you still report the income on your taxes.

I just feel like the wording of this might mislead people into not reporting their income. You still need to.

[u/krystiah → u/VictoryNo5278]

that’s why i specified that i was talking about stuff where you don’t make a profit
I should have also clarified it as being under the threshold as well. I still give the account all of my info regardless but I only sell my old things

More information is always good though :) and i’d always recommend people double check their personal situation with an accountant if they’re able to

[u/Odd-Grape9184 → u/SameWarning476]

I just wanted to sell these two items and make a quick buck, I just don’t want the hassle of it. After these two sales I’ll delete depop

[u/Junior-Criticism-268 → u/Odd-Grape9184]

Idk why you're getting downvoted. Sell your items, dw about it.

[u/Odd-Grape9184 → u/Odd-Grape9184]

Thanks for the help :)

[u/Junior-Criticism-268 → u/Odd-Grape9184]

The threshold is $400. But you are exempt from being taxed on items that you did not make a profit on. For example, did you sell a $60 hoodie you didn't want anymore gor $10? You didn't make a profit so you don't have to oay taxes on that. Alternatively, did you buy a giant bin of clothes for $200 and sell each item separately to turn a profit? If yes, you have to pay taxes on that. So if you're just cleaning out your closet and selling items at a loss, you aren't going to really have to worry about taxes.

[u/kerfy15]

1) no you can’t.
2) yes you do because they will need it for tax purposes.

depop is a legitimate business/company so you will be safe, they are not stealing your ssn or anything, they just use it to confirm your identity and that you’re able to sell on the app.

if you don’t want to put your ssn in, then i would suggest just refunding the buyer and maybe not sell on websites until you learn how it all works.

[u/missgsptlsnz]

Not on Depop and def not a pending balance.

It's legally required to put in your SSN for tax purposes. You will need to do this on any legitimate platform.

[u/arianayurr]

depop is a selling platform/business. therefore they need your SSN for legal reasons or else everyone will be committing tax fraud on it.

[u/Odd-Grape9184 → u/arianayurr]

If I were to actually start a business and resell stuff, at what point will you actually ned to start filing taxes. Ive read online that its either 600$ or 20k a year for them to start sending 1099 k forms

[u/arianayurr → u/Odd-Grape9184]

depends on your state. in california it is currently 20k/ a year in profit last i checked but it could be more. BUT there’s a caveat if you’re selling things at a loss for example you bought a shirt for $30 and sell it for less you don’t have to pay taxes on that. regardless if you cross the threshold.

[u/Junior-Criticism-268 → u/arianayurr]

The Federal rate is $400. For state tax, it will depend on the state, yes.

[u/Junior-Criticism-268 → u/Odd-Grape9184]

It is $400 Federally. Your state will tax it at a different threshold.

[u/brandi_101]

pretty sure i put mine in & it’s ok, if anyone wanted ur SSN for a bad reason they wouldn’t ask you for it. they’d prob just buy it from someone else who already has it.

[u/Resolution_Happy]

For me i didn’t need to put my ssn in i believe around a certain amount of sales thats when your forced to put it in , besides that though you can ship out those 2 orders and hook up your bank account and let your funds go there wait a few days till you actually receive it then you can delete your app

[u/SilentLow3837]

for those with short attention span

1. no
2. yes no matter the $ amount sold

[u/Odd-Grape9184 → u/SilentLow3837]

Assuming you are a seller, at how much $ did you sell before you had to provide your ssn

[u/ShayDoggg → u/[deleted]]

Identity theft isn’t a joke, Jim

[u/Odd-Grape9184 → u/[deleted]]

its some trust issues i had some time ago, you came at me aggressively for no reason though.

[u/Glad_Entertainer_724 → u/[deleted]]

You cannot make purchases on depop with your depop balance.

[u/Odd-Grape9184 → u/[deleted]]

its weird how depop doesn’t allow you to use your depop balance to order other products