Comments on: Do You Have To Pay Taxes On eBay Sales?

By: Karl

Karl — Tue, 16 Mar 2010 20:55:37 +0000

Few questions, what if I purchase something at a yard sale and sell it on ebay for a profit, should I have asked the person at the yard sale for a receipt? Also, what if I purchased a lot of hotwheels on ebay or at a yard sale and then broke up the lot to sell some on ebay, keeping some for my own collection. How do I go about filing that? Lastly, I have hotwheels that I have purchase years ago (1980’s) how do I go about selling those and claiming what I spent is what I really spent. I don’t have receipts for all my items in my collection, especially the ones from 30+ years ago.

By: Mike

Mike — Sun, 02 Aug 2009 19:27:06 +0000

Uhm…how about it’s THE RIGHT THING TO DO?!? Man, I’m sick of hearing grown adults say, “The government will never find out…” Sheesh. Where are the morals? It doesn’t matter who knows or who doesn’t. Where is the integrity?

By: Pinyo

Pinyo — Fri, 05 Jun 2009 13:30:31 +0000

@Tuan – Just keep a record of it. You need to be able to proof it if the IRS asks.

By: Tuan Nguyen

Tuan Nguyen — Fri, 05 Jun 2009 04:15:06 +0000

From the Example 1 above: You have a designer dress that you bought for a Christmas ball. You spent $100 on it, wore it once, then decided you won’t wear it again, so you list it on eBay. If you sell it for $75, you didn’t make any profit on it, so you shouldn’t have to pay any taxes on it.

So how do I show everybody that I spent $100 on the thing that we sell? Or just know by myself?

By: Sammy

Sammy — Thu, 19 Mar 2009 03:08:27 +0000

this is a weird topic, let’s just keep to this story

If you make more than 10,000, you should report it. Most people can’t sell junk in their house and make that much unless high end product HDTV, jewelery etc

Bottomline if you scured, you should, what you hear are fear factors, anyways do what you’re senses tell you

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By: Sam

Sam — Sun, 18 Jan 2009 20:05:36 +0000

Unfortunately I will have to pay taxes on money I made from eBay this year. I also have some other income from blogging and such. My taxes are really starting to get complicated. I guess it is still worth it though.

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