2006-09-14 08:46:10 · 3 answers · asked by Mr P 1 in Business & Finance ➔ Taxes ➔ United States
Ebay is no different from any other business. If you sell in volume, you will need to get a reseller's permit and collect sales tax for items bought from your state. For example, sales tax is 7.75%, so I have to collect this tax for all of the items I ship in California.
2006-09-14 08:51:05 · answer #1 · answered by Tiramysu 4 · 0⤊ 0⤋
If you're selling on ebay as a business, then yes, it's like any other business and you're report your income and expenses on Schedule C. The percent would depend on any other income you have - the profit would add to your other income and be taxed at whatever your rate is.
If you're just selling a few personal items, you're probably not making a profit on them. You wouldn't have to report it in that case.
2006-09-14 20:31:30 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
well if you made a profit on what you sell, then yes..
say you bought a tv for $200.00, week later you sold on ebay for
$250.00, then you report the $50.00 as taxable..but if you sold and broke even or sold for less no
2006-09-14 15:50:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋