No More Poshing?

Poshmark has been my go-to for selling all the pretty things that I like but don't love or that I love but don't wear.  Until now.  Don't get me wrong, I still love Posh and use it all the time but I've decided to stop selling.  Apparently Uncle Sam is going to start coming after clothing sellers like me because even though I paid taxes when I bought the clothes, as did the retailer who sold them to me, and even though the person who bought them from me also paid taxes on them as did Posh on their fees, Uncle Sam wants me to pay again.

I'm no accountant, but my understanding is that unless I can prove each sale was a loss, not a profit, which they ALL are when reselling clothes, then I have to pay taxes on whatever I get from each sale.  Well, I can prove it on most of the clothes I've sold, but seriously, I don't have the time or interest in digging up receipts for things I bought years ago just to prove what anyone with a fully functional brain knows, which is that no one makes a profit off of selling their own second hand clothes.  It's always loss.

Selling my used clothes isn't an actual business for me, in the same way no one becomes a professional yard-saler just because they have one two or three times a year.  Ok, Uncle Sam, you win.  I won't be selling anymore clothes because I just don't have the energy to prove that I shouldn't have to pay taxes on them.  To that end, I'm closing my Posh closet soon.  You may be wondering what I'll do with all the clothes.  Excellent question.

ThredUp is out because they started charging a fee for you to send them things.  The fee is about $13 which is usually all I make off a gigantic bag of clothes, so it's just not worth it for me to do that anymore.  Right now, I know three girls who are just reaching their teens.  They're right about my size and they love everything I wear, so I've been taking things to them, bundle by bundle and letting them take whatever they want.  It makes me feel far better to see them get things they will love than it does to just drop them off at a GoodWill or having Thredup donate the things they don't want.

 

I'm thankful for my time on Posh because those sales have not only helped me curb the in-flow of clothes to my home and make some much needed space in my closet, they've also helped me afford some of my most favorite pieces like my Matoshi Strawberry dress.  

Hopefully one day things will change, but in the meantime, thank you, Posh for all your help.  You'll definitely still be seeing me as a customer, but my selling days are over for a while.  

UPDATE:  The 1099 for selling on sites like Poshmark and PayPal has been delayed for a year, but my feelings on the matter remain unchanged, so while I may not close my closet tomorrow, I'm done listing new items.  It's not worth it.