Please try again. -$14.99 flat rate. Signing Up For ThredUP Submit a complaint and get your issue resolved. ThredUp takes care of the rest High value items this includes new and like-new items from a known (and higher priced) brand or designer. Id stick with Ebay for anything I sell in the future; Ive never gone wrong with them. Coinbase Tax Resource Center. You can think of them as an online consignment or thrift store that allows people to buy or sell used clothes. I created the Blog to inspire women to invest time in their personal style. Get started with a free trial today! 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. They werent processed until sometime after September 12. Glassdoor is your resource for information about thredUP benefits and perks. Customer Support" Benefits information above is provided anonymously by current and former thredUP employees, and may include a summary provided by the employer. Which payments are exempt from having to issue a 1099. We have a lot to share. DON'T SELL ON THREDUP IF YOU WANT TO MAKE MONEY The clue is in the title. 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? As required by law, Crypto.com will also provide a copy of your Form 1099-MISC to . Yes. If you want a guarantee that it will be within one week, you can opt for it by agreeing to $16 being deducted from your earnings. Read all about my experience with this secondhand fashion website here. I finally decided it was best to just lay all the information out there and let you decide for yourself whether or not thredUP is the best route for your gently used clothes. Send us your stuff Place the shipping label on the box or bag and drop it off with FedEx or USPS. A 1099-NEC lists how much money an independent contractor earned so they can pay taxes on that income. You also may have to pay taxes on canceled debt, even if you fail to receive a 1099-C. What to do with it. Return Processed by Thred up May 31, 2022. The kit comes with a large pre-paid shipping pouch, instructions, and tips to maximize your payout. You get to know your neighbours and there might be some nice clothes in it for you. Did you rake in the cash or walk away from the experience feeling completely deflated? There is no one to hold these thieves accountable or get reimbursed for the items they claim would not sell. Your return has been processed. 2.) You must issue a 1099 when you pay a vendor more than $600 for the year. 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. It was a lot.). I added up the value of the five garments that had sold and thredUP earned $99.95 for those items (with one dress yet to sell). I have had success selling tops and dresses for about $20 each (sometimes more, sometimes less) and have loved how easy Poshmark makes it to ship any items I have sold. they closed over the holidays and I couldn't start a return--now they won't let me return my order. I want my items returned or paid the equivalent of what I lost because of their inability to handle incoming merchandise. -Packages may be delivered by USPS. They were able to track the order but there is no refund or return record.. According to the company, item payouts range from 5% to 80% of the listing price, and higher-end brands get you a higher percentage of the payout. March 10, 2023. I have contacted them via email 4 times and tried to rectify through my credit card company with no response. As an employee, your employer will file a W-2 which reports your income and withholdings for Social Security FICA, Medicare, and more. Keep in mind that I had followed all of the instructions that came in my Clean Out Kit and sent summer clothes to thredUP in August. 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. You are required to issue a 1099 when your business makes payments of $600 or more during the tax year to an independent contractor or freelancer. They paid pennies for them, did not return some of my items when I paid $10.99 to have them returned and now I find out that they gave away my Hunter rain boots when I specified I wanted them back. Kind regards, The Goody Boxes had the advantage of delivering free shipping and a bundle of clothes to kickstart a capsule or seasonal wardrobe. Have you tried to sell clothes onThredUP? You actually have to pay the site to accept your clothes. Theres only one way that the company can legitimately afford to knock 40% off their listed prices on a regular basis: bypurchasing their merchandise at a very low rate. I can see that boots from your bag The best thing about selling on ThredUp is also the worst thing about ThredUp. However, the IRS does require backup withholding for some types of payments at the current rate of 24%. And it was impossible to see this in any pictures by the way. We inspect, photograph, list, and ship items for you. Plus they handle postage and packaging to the buyer including any returns that may happen. Filed Under: Money Tagged With: clothes, money. Learn more. 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. thredUP Promo Code: 30% off. 3.8 670 Reviews. In exchange, I received $37.40 in thredUP credit. Even worse, your clothes will not automatically be returned to you if ThredUP does not accept them. Michelle Tyler blog uses its own and third party cookies. Please note that we are unable to create prepaid labels for Alaska, Hawaii, Puerto Rico. This review was chosen algorithmically as the most valued customer feedback. These updated FAQs were released to the public in Fact Sheet 2022-41 PDF, December 28, 2022. Now as to WHO the beneficiary is of my charity, I cant tell so for that reason I wontsell on ThredUp again. The IRS has a series of thresholds determining whether someone is an employee or an independent contractor. Form 1099-MISC and Form 1099-NEC are similar but have one main difference. I would love my refund but more I would like to see this company shut down for fraud. Its beyond me how they have such a huge amount of stock! If you use a barter network, you should receive one from them, also. -Only available for orders with items from multiple warehouses. I found this experience to be stress-producing, not reducing The cool, trendy & good quality denim shorts pictured under the thredUP bag . I ordered 3 pair of shoes, two did not fit, one was defective. The most popular ones sell out quickly. Perhaps The Real Real or Vestiaire Collective is better when it comes to this type of selling? If it looks like you have to pay for a label, just search "Give Back Box print free shipping label" on Google or simply click here. ComplaintsBoard.com is a leading complaint resolution website on the Internet. Crazy Together is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com. Those platforms supply the required information to the IRS. Someone is making something somewhere. And there are three different deadlines for each form, namely the. When this happens, they report the income on, Banks and other financial institutions report dividends and other distributions to their clients on. I guess if you took out my outdated items, it would be more on target (43% accepted) with their average acceptance. Dont worry, a detailed list of requirements comes with the bag. You can also earn shopping credit at a favorite store for cleaning out your closet. With the credit or let my daughters shop with the credit. The other thing sorely lacking is the description of the items for sale. Banks and other financial institutions report dividends and other distributions to their clients on Form 1099-DIV. Which means that the hypothetical $50 blouse in my closetwill get an even lower payout than I initially anticipated. This does not drive our decision as to whether or not a product is featured or recommended. If, like me you tend to give away most of your unwanted clothes then this is a nice little gift for doing so. Employers can be subject to an IRS fine of $50 or higher for failure to give you a 1099. Complete. I would like my money back. Best Overall: ThredUP. Mara Leighton is a senior digital culture reporter. 30%. I will say that thredUP is pretty transparent about the status of the clothes they keep and list online. Also, corporations (S Corps and C corps) don't require a 1099. Form 1099-S reports the sale or exchange of real estate. Well, its basically an online consignment shop. The IRS has a variety of 1099 forms to cover all of these and other scenarios. If youre like me and find yourself with a surplus of clothes from Stitch Fix that no longer suit your style, I highly recommend selling those items yourself in the Stitch Fix B/S/T Facebook groupthat has 50,000 members and is completely devoted to the buying, selling, and trading of Stitch Fix clothes. Desired outcome: And no you cant add your own description like Ebay or Vestiaire Collective. At the end of each year, it is the employer's responsibility to provide a completed 1099 form to the person they pay. The only outcome I would want is full refund in it's entirety. O.K so they do all the heavy lifting. My comment didnt come through. The clue is in the title. thredUP keeps track of all incoming clothing to sell through their $10 Clean Out Kits. Monise S. Ive tried every way to reach them but there is NO customer service number or email address to contact them. refund return amount to my the credit I used for my purchase. Seeing as that's not what they do, never shopping with them again hurts them more than me. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. You might sell stocks at a profit, earn interest from an account, get dividends from a company, receive distributions from a retirement account, and more. 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. According to their website, thredUP is the easy way to shop and sell secondhand clothes. I honestly cant speak to the shopping experience (I currently have $54.65 in unused thredUP credit that I really need to transferinto my PayPal account),but Ive learned a lot from selling my clothes on the siteand it doesnt always rake in the cash like you might expect. FedEx cant get in touch with ThreadUp to confirm the order either. Emailed them a second one because they hadn't answered the first. Ive had good results from this in the past and its not as labour intensive as selling pieces individually. Said it was delivered on Aug 31at 2:53pm. We cannot change refund methods after the return has processed Here are a few lessonsIve learned from my own experience selling my clothes on thredUP. I emailed them asking for specific reasons why they werent good enough to sell. Basically a win win in my book. Their follow-up on clean out bags is terrible. 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. 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. Required fields are marked *. I believe this is just a fraudulent scam. You never know the bad policies of a site until something goes wrong. You make a little and they take their cut for their hard work. freelancer or independent contractor less than a total of $600 for the year, you are not required to send them a 1099. Next youll receive notification of your items going live on their site. Greetje, Oh I agree with you Greetje and I also give away to people I know. I have used ThredUp for several years and had good experiences when they first got up and running. A. WAIT FOR AN INCREDIBLY LONG TIME.It took ThredUp two months to process my bag. I would like a response to my inquiry! When a 1099 form does not match a W-2 filed by the IRS, the IRS uses it to track payments. All about payouts. Sometimes business owners can be frustrated because they do not have enough information to issue a 1099. They also have two retail locations, one in California and one in Texas. No, not unless you pay for the option, which is $10.99 (April 2020 pricing). Somehow, my bag slipped through the cracks even though thredUP had a record of it arriving August 12. They made sure no one would be able to tell. By clicking Sign up, you agree to receive marketing emails from Insider Unemployment compensation is taxable income and must be reported each year even if you have repaid some or all of the benefits received. If you choose to do the Standard Clean-Out, it's good to know the company says that it only accepts 40% of the items in the average kit. If you've ordered a bag from thredUP.com, it's already "activated" and associated with your account. Then I got this email from them to 'clarify' the situation: 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." A business uses Form 1099-NEC when it reports non-employee compensation. This post contains affiliate links. Thanks for that love xx. It is minimal to the extreme. When I made a complain on their portal someone apologize and stated that I will get my money back, that was back in Share your photos and videos with others to prove the truth of your words. Despite having a type-A personality, I wouldn't call my closet particularly well-organized. 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. [protected]@verizon.net. 3. Only customers shipping to the 48 contiguous US states will have access to the pre-paid, pre-addressed shipping return label. In any case if you know your stuff and do your research, you shouldnt get ripped off. I like it and it is nice to get alittle something back with all the money on clothing. Out of about 40 pieces only fifteen were chosen to list, the rest went to charity. Since I financed this purchase wit Afterpay, I contacted them for assistance. Form 1099-B (Proceeds from Broker and Barter Exchange Transactions) reports the sale of stocks, bonds, mutual funds, and other securities. If you search around and shop total price you can probably find some really good prices even with the $7 shipping factored in compared to thredup Flaky-Somewhere1 2 yr. ago Fortunately, the IRS always provides the dates in, General Instructions for Certain Information Returns. The contractor must be a partnership or individual. On top of the fact that thredUPis a business and needs turn a profit somehow, theres another major factor that will impede your ability to make bank on the clothes you send their way: discounts. The key is that these must be personal payments and not business payments. If you plan to use a vendor and pay them more than $600 in the year, the best business practice is to have them fill out a W-9 before doing any business with them. You Have to Pay thredUP to Process Your Clothes There's one more thing you need to be aware of before you attempt to sell your clothes on thredUP. Please DO NOT add attachments that contain your or other peoples personal information, if you dont want it to be visible to the public. email from Thred up of return processed: Now Im out $230+. You do not file 1099s for Uber drivers. Tue, May 31, 1:18 PM PSA DO NOT, I repeat, DO NOT send clothes to ThredUp using their "clean out kit." I sent 20, TWENTY, pieces of quality clothing to them and it took a month and a half for them to process my bag and then give me a whopping THIRTY-FIVE CENTS, yea, $0.35, for these items. The Sloth. Does Robinhood supply a financial statement? Form 1099-R reports the distribution of $10 or more of retirement benefits from pensions, annuities, or other retirement plans. A complete refund and no more run around! Now Sept. 21, 2022 I am attempting to use the store credit and says my account has been banned. I actually spat out my tea at the time, unable to hold in my laugh. 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. They were worn twice so replacement value would be exactly what I paid for them. A clothes swap is a terrific idea too! And LLC earnings will be subject to self-employment tax. When you reimburse them for those expenses, it is not income, and you are not required to file a 1099. ThredUP is the most convenient mass upcycling program I've found for city dwellers without a car. It was just a dress! What happened to the rest of my things? They are the self-proclaimed largest fashion resale marketplace with over 35,000 brands. MANY of you have asked what I'm sending in to ThredUP - here it is! You can download financial statements from your Robinhood account. Sometimes larger quantities are offered such as 50 lb or 100 lb boxes. It was only 30 days past the year so I asked them to convert back and they said it's not possible. They do all the heavy lifting by listing photographing, marketing, and handled the commerce of your items. This will surely increase the credibility of your complaint. Obviously the reasonit took so long for me to publish this post is because of the ridiculous amount of time it took ThredUp to do their thing. Desired outcome: Last summer, I did a major closet clean out after learning about the KonMari method. Crypto.com may be required to issue to you a Form 1099-MISC, Miscellaneous Income, if you are a U.S. person who has earned USD $600 or more in rewards from Crypto.com during the previous calendar year from Staking, Earn, Referrals, or certain other activities. I may sell things here as I have a large store on a very popular online site but will NOT ever buy again as there is no recourse for not as described. Relax! Sign up for Insider Reviews' weekly newsletter for more buying advice and great deals, A handful of companies will actually reward you for getting rid of stuff you no longer use, learn more here about selling luxury items, scheduled a USPS pickup at USPS.com online, for luxury items which fetch as much as 80% commission of the sale, Order a thredUPClean-Out bag online to donate clothes now. When eligible items sell, cash out or get shopping credit. 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. 11 brokers have issued 12-month price objectives for ThredUp's stock. I have been stashing away some of my better brand, lightly worn clothing for resale and was considering ThreadUp. This site states numerous clean out bags that I've sent using their prepaid labels has never been received, and when I follow up with them, they state I should insure them, but the postal clerks tell me that that shouldn't be necessary for these type of prepaid shipping labels.