thredUP: Online Thrift Store on the App Store Hi Indulekha Yes. Now as to WHO the beneficiary is of my charity, I cant tell so for that reason I wontsell on ThredUp again. The items on ThredUp are in excellent condition and generally priced very low although I have come across the odd item that confused the hell out of me. So, you better be ready for that as well. THE TRUTH ABOUT SELLING ON THREDUP - MichelleTyler I think youre right to view it as a charity, although like you, I smell a bit of a rat. This is our story. They werent processed until sometime after September 12. thredUP keeps track of all incoming clothing to sell through their $10 Clean Out Kits. In late 2021, ThredUP discontinued its Goody Boxes. Here are a few lessonsIve learned from my own experience selling my clothes on thredUP. When you pay a corporation, you are not required to send it a 1099. A handful of companies will actually reward you for getting rid of stuff you no longer use. Monise S. As another example, Uber has more than one million drivers in the US. Unlike other apps like OfferUp and Facebook Marketplace, there's no heavy lifting on your part with thredUP. We are so glad you stopped by. Unfortunately, I give a big thumbs down to thredUP online consignment site. 40%. Your return is complete and your credit of $144.21 has been processed. 1099 Form for the 2022 Tax Year | Crypto.com Help Center Oh well lesson learned I guess? Back in August 2022 someone hacked my THRED UP account and made purchases in the amount of $1,185.00. Chanel Silva Now can't get a response at all. Had a few others say the same xx. Which means that they have to make a profit from the $50 blouse you send their way and the only way to do that is by offering you less money for your blouse than its actually worth so that they can resell it at a higher price, pay their bills, and earna few bucks for themselves. There are 20 variants of 1099s, but the most popular is the 1099-NEC. Form 1099 indicates that you are self-employed / independent contractor. How Does ThredUp Make Money? The ThredUp Business Model - FourWeekMBA Items purchased with thredUP store credits will always be refunded back as store credits CAN FASHION DO MORE THAN JUST BE SUSTAINABLE? Fill up your kit Free up space in your closet by filling any box or bag with gently used items you no longer wear, need, or love. My comment didnt come through. Their TDUP share price forecasts range from $2.00 to $13.00. I would like a response to my inquiry! My acct was w/CHASE bank, I disputed one item but the bank returned all of the money for that order to my acct. That sucks big time Marie! Which makes sense, because very few people will be shopping for a new winter coat in July. 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. I got my mother of the bride dress on thredUP and formal wear has unbelievable low prices. Have you tried selling your clothes as a bundle on Ebay? There are different types of 1099s, and they do not all have the same filing date. My Best Tricks for Scoring Deals on ThredUp - Everyday Reading It's sort of like Poshmark or eBay except you can send all of it off at once, and they take care of the actual selling: inspecting them, professionally photographing them, listing them, and shipping them. Finito. I bet they keep the good stuff for themselves of sell them on. This experience makes me distrust Thred up with what they do with your clothes. ThredUP Reviews: Is It Worth It For Saving and Making Money? I ordered a pair shoes ASOS: SHOES which were listen as a Size 5. The remaining 60% is dealt with in . Sometimes larger quantities are offered such as 50 lb or 100 lb boxes. Selling on ThredUp is NOT for the entrepreneurial. If you use a broker to sell stocks, bonds, or other securities, they will send you Form 1099-B to report gains or losses from your transactions in the preceding year. Believe it or not this dress and likewise many other items were rejected by ThredUp. SHOP SELL FAVES Coinbase Tax Resource Center. I would love my refund but more I would like to see this company shut down for fraud. ThredUP's service is convenient in the way that it offers perks and options and does the heavy lifting for you. Send us your stuff Place the shipping label on the box or bag and drop it off with FedEx or USPS. For example, when you hire a writer through UpWork or an artist through Fiverr, you pay the service, and the service pays the freelancer. I resold all of my Stitch Fix clothes on my sale Instagram account: @MariaSellsThings, pulled a stack of non-Stitch Fix clothes that were in top-notch condition to sell on thredUPand donated the rest to the Salvation Army (you can see photos of what we donated in this blog post. 3. This also includes items that are slightly faded, stretched, or show other signs of wear. W-9 vs. 1099 Tax Forms: What Is the Difference? | Indeed.com DO NOT SELL TO THREDUP : r/FrugalFemaleFashion - reddit reports the sale or exchange of real estate. Although its fair to say if this is the grand sum I make from my huge bag of clothes then its more for charity than profit. Desired outcome: To be accepted, they have to show no signs of wear (pilling, fading, shrinkage), damage, or alterations. For items priced at $20.00-$49.99, Thredup takes 70-85%. When you reimburse them for those expenses, it is not income, and you are not required to file a 1099. They probably will tell you they don't accept them and you won't get anything or if they do accept them you will get a few dollars. When I started writing this post on July 20th, the only option for men's clothing was 25 lb at $110. What countries do you ship to? - thredUP A 1099 is a document or a series of documents the IRS uses to track different income types, other than salary, an employee receives. I combed through their website and there is NO mention of this policy. However, THEY ARE Like most of the complaints before me , I also never received a refund for a dress I purchased. They do all the heavy lifting by listing photographing, marketing, and handled the commerce of your items. If you use a barter network, you should receive one from them, also. as well as other partner offers and accept our. I sent a large box inside the bag of jewelry from my store inventory, ladies long cream white wool coat, granddaughter's two prom dresses; all in mint condition and yet they never arrived? Every time I clean out my closet, I sort my clothes and accessories into a few different categories. The other thing sorely lacking is the description of the items for sale. Im sure they will be relisting the defective pair as well so as to sell to another sucker, assuming I ever do get the email. Push Continue. Grab a coffee and stay a while. There was an error submitting your subscription. Starting in July of 2021 I sent in a massive amount of designer clothes. And LLC earnings will be subject to self-employment tax. all you can do is to choose from a menu of questions and click on pre-typed answers. Greetje, Oh I agree with you Greetje and I also give away to people I know. This complaint was posted by a verified customer. We earn a small commission each time someone makes a purchase through one of our links, which helps to support the blog. And thats alright by me. Form 1099-K Frequently Asked Questions. The company is shady at best. 2.) Other 1099 copies are . I guess if you took out my outdated items, it would be more on target (43% accepted) with their average acceptance. Payors of 1099s need to know when they are required to file a 1099 and when they are not. Your orders were canceled because you filed a dispute on order 6K1UFSTEV3EZ, which goes against our Terms of Use. The most popular ones sell out quickly. She would have bought these from me, but she already has them. 3.8 670 Reviews. March 10, 2023. You can log into your account to see them and even adjust the price although only up to the estimated retail price ThredUp has set. I believe this is just a fraudulent scam. We need plus size items they boasted, and I had them. Do Construction Companies Have To Send 1099 Forms To Subcontractors? You won't need to find a bag or box, and aside from the actual act of going through your closet, all the work is done by a couple of clicks online. They paid me $37.40 (less than half of the money they earned) and they donated three of my items that were not high-quality enough to sell online. It was a lot.). My name is Kathryn Goodfellow-78 Prospect Ave., Norwood, Mass. I contacted customer support so they could look into it. So, if you're a Target shopper, ThredUp won't necessarily save you money, but it could get you better brands, and the satisfaction of buying used vs. new. I usually get about $40 a box and I then treat myself to something special like a nbtand name jacket or dress. Im going to report them to BBB. 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. I ordered 3 pair of shoes, two did not fit, one was defective. The IRS penalty for failing to issue a 1099 is now $250 per form. When your items sell you have the choice of credit to shop or cash out. WAIT FOR AN INCREDIBLY LONG TIME.It took ThredUp two months to process my bag. What Is a 1099 Employee? Everything You Need to Know Below are links to frequently asked questions about the Form 1099-K including general information, reporting requirements and filing the form. Shop the ThredUp Black Friday and Cyber Monday sales. As a Coinbase.com customer, you'll receive a 1099 form if you pay US taxes and earn crypto income over $600. That's the name of the actual box on the 1099 form where you will officially fill in the amount you are claiming. As you can probably guess I posted some Instagram Stories before I sent my bag to ThredUp. Return # 5043206 In my experience, it can sometimes take even longer. Saw your post on #iwillwearwhatilike Those are offered at a cheaper price per pound because you buy more at once. From this haul, they accepted 13 items which is only 30% of the bag. The men's rescue box is $50 for a 10 lb box. And it was impossible to see this in any pictures by the way. If you have more than just clothes that you are looking to clear out or you want a more complete list of options to turn your gently used items into cash, this blog post about the money hiding in your closet may be just for you! The problem is that Thred up gave me Thred up store credit for the amount instead of returning it to my original payment credit card. Poor quality clothing will be given to textile recycling partners to recoup money. I sent a $125 emails blouse and got $4 and Lululemon leggings I paid $128 plus tax for I got $6 - Ive entailed 2x there is no phone number - this company is a fraud - I need to get my designer items back ASAP There is no disclosure no follow up and I havent even gotten the $12 mailed to me for the two items sold so far- I need file a claim w BBB, Desired outcome: A large plastic bag with the return address already on it will arrive in your post within a couple of weeks. Thredup Review 2022: An Online Clothing Store Scam or Legit - LEARNANET The Salvation Army will also come pick up donation boxes if you sign up for a slot online, but be prepared to wait weeks because this option is popular. Please share your experience in the comments! Orders shipped within the 48 contiguous United States: Many types of payments are exempt from needing a 1099, including personal payments and total payments to a vendor under $600 for the year. Can an employer get in trouble for not sending a 1099? We have a lot to share. I will never send in another kit and have alerted friends and family to do the same. You did work for your neighbor and made repairs of $1,000. Ive tried every way to reach them but there is NO customer service number or email address to contact them. While I dont doubt they donate to charity, it does seem rather suspect that they wont define the charity or at least whom it benefits. If you choose partner credit as your payout option, you could earn an extra bonus for a limited time like a 20% bonus to Amour Vertor a 15% bonus to Reformation. Havent heard of thredUp? Coinbase Tax Resource Center | Coinbase Pro Help 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! Once I was looking for a statement brooch and noticed a plastic necklace from Marks and Spencer priced at a whopping $199! I bet they dont give to charity, perhaps they sell these pieces on, just not on their site? Coinbase reports your cryptocurrency transactions to the IRS before the start of tax filing season. The clue is in the title. Only customers shipping to the 48 contiguous US states will have access to the pre-paid, pre-addressed shipping return label. You can also earn shopping credit at a favorite store for cleaning out your closet. Kind regards, ARE INFLUENCERS PART OF THE FASHION PROBLEM? The contractor must be a partnership or individual. For example, imagine you are a business that hires others to help provide your services. Your email address will not be published. Benefits information above is provided anonymously by current and former thredUP employees, and may include a summary provided by the employer. It is too long by 1/2 inch at least. thredUP Coupons March 2023 - USA TODAY Coupons 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. There are quite a few exceptions but the most common is rent paid to a property manager, or any seller of merchandise, freight or storage. Form W-9 has been described as the employers best friend because it calls for the vendor to supply the information the employer needs. ORDER #XHP741U5I5K9 I returned them the next day and was charged $2 each as a "restocking fee". You can order a clean-out kit online to be delivered to your home, fill it up with goods you want to recycle(or sell), and leave your bag for your mail carrier, schedule a USPS pickup, or drop it off at any FedEx Office or USPS location. Im sure I wouldve gotten more by just throwing everything in the trash. Ive tried to contact ThreadUp several times and have received no answer. Items had no sizing information I emailed them asking for specific reasons why they werent good enough to sell. Expensive ones. A complete refund and no more run around! For a failure to issue a 1099-NEC or 1099-MISC, the IRS penalty varies from $50 to $270 per form. Return Completed - Status Bar If you wish do donate your clothes without a payout, the kit is free (but FYI, you dont get a receipt for tax purposes). IRS Form 1099, commonly called a 1099, is the IRS form used to report non-employment income. In that case, you are probably an independent contractor. But, the IRS counts that amount as income to you, and the lender will send you a, When corporations undergo substantial change or ownership control, sometimes, they send the stockholders cash, stock, or other property as part of the restructuring. In that case, you must determine if they are employees or independent contractors. Next youll receive notification of your items going live on their site. [protected]@verizon.net. My Hunter boots were not even listed, they were stolen the minute they arrived. Then I got this email from them to 'clarify' the situation: However what I was NOT prepared for was the huge number of items deemed unfit to sell. When you pay a corporation, you are not required to send it a 1099. Desired outcome: You can send items to sell, opt to have them recycledor rerouted back to you if they're not accepted, or have the company donate $5 per bag to a charity if you use just their Donation Kit. The 1099 form is officially known as a 1099-MISC form, with "misc" standing for miscellaneous. We cannot change refund methods after the return has processed 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. 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. ComplaintsBoard.com is a leading complaint resolution website on the Internet. So as you are sorting through your clothes, youll want to make sure they are seasonally appropriate. I dont know because nobody at ThredUp ever replied to my question about it. Here's the cost breakdown: Price: $50. thredUP has a consumer rating of 3.17 stars from 5,867 reviews indicating that most customers are generally satisfied with their purchases. 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. I actually spat out my tea at the time, unable to hold in my laugh. One shirt had scrapes another had outright tares. When a 1099 form does not match a W-2 filed by the IRS, the IRS uses it to track payments. $10. 1099s need to be issued to single-member LLCs, partnerships, sole proprietors, unincorporated contractors, and freelancers if you paid them more than the yearly threshhold. I would like ThredUP to restore my account, give me my $10 credit and allow me to use my new debit card for new orders. As I mentioned earlier, I emailed them questions. I just decided to sell to threadup for the first time. And there are three different deadlines for each form, namely the. My account is locked, @ need to up date [protected]@number my new email is josette [protected]@gamail.com my number is [protected] josette clark my Ole email was josette clark [protected]@ yahoo.com I don't have that anymore thanks. . refund return amount to my the credit I used for my purchase. ** Fun Fact - Lawyers get a 1099 regardless of whether they are incorporated or not. How do I report stock sales if I didn't get a 1099b? - Intuit Your experience is exactly what I feared might happen after I read how they work. It seems INSANE that that much clothing got you so little money. For the last year, I've spent more time trimming the fat going through my small New York City closet, packing bags, and schlepping clothes in Ubers and city buses all across the city to sell or donate than probably any other activity. ThredUP does a great job of sorting through items received from sellers to only resell those items in good or great condition. Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Tumblr (Opens in new window), see photos of what we donated in this blog post, How We Screamed Our Way through the Dave Ramsey Show, I Was Broke, Too A Look at my Early Finances, Sinking Funds Why You Need Them & Why We Love Them. 2. My order was delivered, but on the threadup site it still shows as 'in transit'. I basically mailed them 3 FULL boxes of clothes and shoes that were practically brand new or had tags. I would check at least daily if I wanted to get one of the most popular boxes. For example, if a business hires a freelancer for a project, it's important they send a 1099 . Total scam. Heres the full stack of clothes designated for thredUP. In that case, the penalty is a minimum of $550 per form or 10% of the reported income, with no maximum. DON'T SELL ON THREDUP IF YOU WANT TO MAKE MONEY The clue is in the title. Please note that we are unable to create prepaid labels for Alaska, Hawaii, Puerto Rico. They were worn twice so replacement value would be exactly what I paid for them. Then again, thredUP might not be the gold mine that it sounds like. [protected]; [protected]@aol.com I like it and it is nice to get alittle something back with all the money on clothing. Fortunately, the IRS always provides the dates in General Instructions for Certain Information Returns. He must send a 1099-MISC form to the developer. 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. Depending on what your local upcycling options are, you may earn more by bringing relatively high-end items to a Buffalo Exchange. 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. 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. It reports the income paid to the independent contractor or freelancer. If you're trying to browse thredUP from another country, you unfortunately won't be able to access our site and will have restricted website access. For example, Give Back Box will email you a free shipping label to slap on any box you have in the house to send your donations to charities for free. It's not for lack of trying. I want to complain about this company and their poor judgment of selling stuff in bad condition and the smelled nasty. Do shoes need to be sent in original boxes? | thredUP Q&A Filing Form 1099-K. A builder is generally considered to be a contractor, and payments to contractors are not reportable on a 1099 (with a few exceptions). Here is why. Make money at home selling used items | Beacon Ive found some extraordinary bargains like these Escada baby cord velvet flares below. If you buy them, we get a small share of the revenue from the sale from our commerce partners. Currently, there is no expiration date. Suppose you are in business for yourself and provide services to other companies or people. How do I resolve this other than to turn to you? x, Julie | thismainlinelife.com, Yep Ebay is better for making money theres no doubt about it , Dang! Consider the wellbeing of who made our clothes & say no to fast fashion. 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. But my favorite may be thredUP's donation program for its ease and benefits. Interesting that most of the bags that are missing are the very ones that had new items in them or really expensive items.