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Selling a bike, buyer asks me for a w-9

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Do do it

The W9 is a scam! as far as the museum....I've been to several times Atlanta and NEVER heard of that.
The museum is probably in Africa....just post the bike here first as someone proposed earlier.
 
How many of you are tax PROFESSIONALS or consulted one before posting advise on this topic? I did. It amazes me how quick people are to talk out the side of their neck. The W-9 requires a SSN or TIN. Any business that pays out $600 or more to an individual or business in a year can ask for a W-9 and should provide the corresponding documentation at the end of the year. If they are a legitimate operation, there's no reason not to give them a W-9. I don't know why the TIN is unacceptable. That's for them to answer. If you have any doubts about what is proper or not for this type of transaction, consult a tax PROFESSIONAL.
 
Thank you guys for the support. Like I said its seemed sketchy but also oddly legit. I'm still going to call Rollins Co. Owner of Orkin to find out more.
 
How many of you are tax PROFESSIONALS or consulted one before posting advise on this topic? I did. It amazes me how quick people are to talk out the side of their neck. The W-9 requires a SSN or TIN. Any business that pays out $600 or more to an individual or business in a year can ask for a W-9 and should provide the corresponding documentation at the end of the year. If they are a legitimate operation, there's no reason not to give them a W-9. I don't know why the TIN is unacceptable. That's for them to answer. If you have any doubts about what is proper or not for this type of transaction, consult a tax PROFESSIONAL.

Stinky is correct. When we pay any individual contributor for our magazines more than $600 in one year, we require a W9 form for our tax purposes. Additionally, some (but not all) of our advertising customers require a W9 from us. Usually it's the larger companies who do (Summit Racing, Harbor Freight, etc.) and I think it's probably determined by whatever their corporation's tax filing status is (partnership, Sub-S, etc.).

Individuals do not have Tax ID Numbers; they use their Social Security Numbers, which are in effect, their tax ID numbers.

I'd think a reasonably priced Cycle Truck would be a fairly easy sale. If the W-9 deal spooks you, sell to someone else. But you can be sure, your SSN is already in the hands of people a lot less desirable than Orkin!
 
Alan is correct, individuals do not have Tax ID Numbers; they use their Social Security Numbers, which are in effect, their tax ID numbers for W-9 . If I were you I would begin a paper trail...have the company send you the W-9 form, plus a request letter with an invoice on their letterhead with all their contact information (this will usually deter scammers). Once you received it you can always call Orkin's headquarters and ask to speak to accounts payable and see if an invoice has been issued ?
 
She's sending me an invoice. And all if her emails come from an @rollins.com. The cycle truck had been for sale here in the Cabe, rat rod bikes, and Craigslist. Not many people interested. She willing to pay full price, acouple hundred to pack and ship, and shipping costs. I need to sell bike ASAP and it would've nice to get top $$ and have another bike in a museum. Paper trail begins!! Thank you again. The Cabe always comes through. I have never dealt with a w-9 so I needed to hear this input.
 
Yep your all getting in a tizzy over nothing, A W-9 is a standard form any legit company/business needs in order to buy/rent an item. If you want to make the sale, do it.
 
Selling a bike is not providing a service and the seller is not really required to fill out a W-9. Does the buyer have Staples fill out a W-9 when they buy $800 worth of office supplies from them? This is a mechandise sale, not contract work or providing a service. I personally would not mess with it and the buyer must not know when you need to request a W-9.
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Form W-9 is used when a business needs to have your name, address and taxpayer identification number so the business can issue a tax document to you and to the IRS. Form W-9 is frequently utilized in a business context, when one business needs to pay another business or a person for worked performed as an independent contractor. Form W-9 is also used by financial institutions to obtain information from their customers which will be used to prepare various types of Form 1099 to report interest, dividends and other types of income.

Independent contractors and other people who work for themselves will often need to give a Form W-9 to their clients. Clients will then use the information on Form W-9 to prepare Form 1099-MISC to report income paid to the independent contractor.
 
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