I've sold a handful of things around the house over the last year over ebay and am looking for actual evidence on the web that says we have to report it, if we are not a business.
I don't really do this as a hobby either... its just a once in a while thing.
If I have to report it, then fine, but I am looking for any SPECIFIC info you can find that says we HAVE to report it.
I read an article that Ebay does not report sales to the IRS and really has no way of tracking if payments are made and how much money is actually changing hands... so... what do we do?
2007-01-01
15:45:51
·
3 answers
·
asked by
dgrams2003
2
in
Business & Finance
➔ Taxes
➔ Other - Taxes
So, lets say I bought somehting for $50 and sold it for $90 on ebay. (And already paid my state taxes when I bought it)
Then I would have to pay taxes on the additional $40?
2007-01-05
13:17:39 ·
update #1