Back Market is required by law to collect your Social Security Number (SSN) if you have reached a specific Trade-in activity threshold within a single calendar year because US tax regulations require us to report this information to the Internal Revenue Service (IRS), the US federal tax authority.
When does this apply to me?
You will be asked to provide your SSN if you meet both of the following conditions within a single calendar year:
- The total value of your paid Trade-in sales reaches or exceeds $20,000
AND
- You have completed 200 or more paid Trade-in transactions
Once you meet this double threshold, you will be prompted to enter your SSN the next time you initiate a trade-in. You will not be able to complete a trade-in without providing this information.
Why does Back Market need this information?
This requirement comes from the IRS. To comply with US tax regulations, Back Market must report Trade-in activity to the IRS when it exceeds the 1099-K threshold. Your SSN allows us to accurately report this information as required by law.
Do I need to pay income tax on my trade-in?
Generally, it is not expected that you will make a taxable profit when trading in your personal used devices, even if you are above the 1099-K threshold. Please refer to your CPA or accountant to assess your personal situation.
What happens if I don't provide my SSN?
Unfortunately, if you have reached the legal threshold, providing your SSN is mandatory. Without it, you won’t be able to create any new trade-ins on Back Market. This is a legal requirement we are obligated to enforce.
Is my data safe?
Your privacy and the security of your personal data are our top priorities. Back Market only collects your SSN when required by the IRS — we will never ask for it beyond what the law mandates. Your information is stored and processed in full compliance with applicable data protection regulations, and is never used for any purpose other than fulfilling our legal reporting obligations. Have more questions about how your data is handled? See our Privacy Policy