Ebay seller as main source of income?

Question

Just wondering if anyone out there sells things on ebay to supplement their income (i.e. stay at home mom). If so, where do you get the stuff to sell? Do they send you a W-2 at the end of the year? Any info would be great!

Serious reponses only please.

I know how to sell things on there, I've done it many times...I'm just wondering if anyone out there does it for a living........

And to "a kinder, gentler, whatever", really? You think I should do some research and not just ask a question on here? Hmm..I am inquiring to people that DO IT idiot....so go find someone else to attempt to make look stupid to get your points on here, since according to your 360 page, that's what's important to you.

Answer 1

Depending on how serious you want to get will drive how much you have to report for business purposes.

If you're looking to supplement an income on eBay by selling items from around your house you will be able to without too much consideration of W2/1099 and income reporting.

If, however, you decide to get a tax ID number and Sales Tax exemption form from your state (which basically allows you to buy items to resell without paying taxes) you should plan on doing a good job of record keeping since you will have established yourself as a true business.

By doing this you agree to collect sales taxes for your local taxing district on items that you sell within your state (typically).

So, in plain English if you live in Massachusetts, have a state tax ID and use it to buy items for resale you are now obligated to collect sales tax for any item you sell to another Massachusetts resident. Once collected you file a sales tax report and send in the revenue.

The internet is still a bit of a frontier for tax collection. Notice I said you only collect taxes from other residents of the same state. If I live in Maine and buy from you, technically I don't have to pay the tax. Of course the Governor of Massachusetts would "like" you to collect it and in fact there have been a number of efforts to pass legislation to do just that. But as of right now, that's not the case.

eBay is not going to send you anything other than a bill for using their web site. All money you transact between seller (you) and buyer (your customer) is done outside of eBay.

They can pay you by check, money order, or even credit card if you have a PayPal account and this transaction. eBay has no "skin in the game" in that regard.

My advice, start slow and sell a few things around the house that's just collecting dust. See how the process works and get a feel for what sells and what doesn't. As your familiarity grows then you'll get a better sense for how well it fits your lifestyle.

Good luck and don't let "A kinder gentler me" get you down!

Answer 2

Hi,
Yes people make a living on ebay , Usually by selling expensive stuff ,electronics are the best, like now it would be ps3 , xbox 360, plasma tvs . With a few sells of expensive electronics you can make really good money ,
Use Salehoo, http://www.salehoo.com?aff=basimdcs&type=ps3 , to find good wholesalers, salehoo also provides with you great guides on how to start on ebay, like how you can become a power seller selling small informational products just to build reputation .

Answer 3

Some people can be so rude, There are some books out there that you can find that can help you learn how to sell on e-bay, If you go to your local library you could more then likely find something there to help you. One thing that people do is go to thrift shops, garage sales,estate sales and the like....

Answer 4

Does eBay sent you a W2?? You don't work FOR them...you are just listing stuff on their site...

You need to do some serious homework...not just ask a question here...

Answer 5

i think that could be a main sorce of income