Selling on ebay I didn't make enough to file tax returns but I'm starting to worry about taxes and all.
Any help?
2007-05-07 06:25:01 · 7 answers · asked by M H 1 in Business & Finance ➔ Taxes ➔ United States
If you took in over $400 you have to file, since it's self-employment. If you made less than that, then you don't have to, so don't worry about it.
2007-05-07 06:29:39 · answer #1 · answered by Judy 7 · 1⤊ 1⤋
Just because you didn't have to doesn't mean you shouldn't. You are probably entitled to credits that would result in a refund. Also, your self employment taxes will help offset your Social Security payments. If you made less than $400.00, you will not have to file all the additional Schedules required after the $400.00 mark. It's unclear if you were Selling for a profit, or Selling things you owned. Selling things you own is not earned income.
2007-05-07 08:41:54 · answer #2 · answered by Cookie Lady 2 · 0⤊ 1⤋
you have dissimilar themes to handle. First is the "CS" situation from the faster court docket order. He might desire to be sure that ASAP or it is going to proceed to be a situation. That pronounced the earnings tax situation is two areas. First the federal return may be filed a pair of techniques yet none of them contain the tactic you propose with a HOH and single return. which would be fraud in case you're legally married. so which you may desire to report Married submitting one after the different (MFS). many times that's no longer a sturdy theory because of the fact dissimilar credit are actually not allowed with a MFS return. next you may desire to report a Married submitting Joint (MFJ) return and persist with for an injured better half attention. As for the state i might prefer to appreciate the state in which you would be submitting to grant any propose. How ever the ideal answer for the two state or Federal returns is to cut back you withholding so as which you have no longer any refund. which will purely artwork in case you're actually not looking forward to an excellent refund because of refundable credit. besides to criminal propose with reference to the past court docket order you're able to desire to take a seat down with a tax expert and get a sprint planing propose as we are purely guessing without some particular counsel touching directly to your returns.
2016-12-17 06:31:00 · answer #3 · answered by bustamante 4 · 0⤊ 0⤋
We are surrounded by idiots and computers, especially in the tax world. You should just fill out a tax return and file it showing why you don't have to fill out and file a tax return. I know it sounds stupid but you have to consider the mentality of the people who work for the government.
2007-05-07 08:36:25 · answer #4 · answered by acmeraven 7 · 0⤊ 1⤋
What did you sell on E-Bay? If you had a business on E-Bay, Judy (answer 1) is correct. If you had the equivalent of a 'garage sale' on E-Bay, you are only taxed if you sold for more than you originally paid for the items. Profit is not very common when selling used items on E-Bay.
2007-05-07 12:29:19 · answer #5 · answered by STEVEN F 7 · 0⤊ 0⤋
You should file whether you owe or not. At least then there is a record of what you DID make on file.
A little different scenario, but when my daughters were small they had stock and investments. They didn't make enough to have to pay, but we filed anyway. Should the IRS decide to review their past years before they had to pay, we had it in paper form.
It doesn't hurt to cover all your bases.
2007-05-07 07:19:17 · answer #6 · answered by momwithabat 6 · 0⤊ 1⤋
I believe that you do need to pay taxes--you may be exempt from federal taxes, but I don't know about the FICA taxes (I think no one is exempt from that but maybe you are because you make so little). I'm sure your accountant will not charge a lot just to answer your question.
2007-05-07 07:52:47 · answer #7 · answered by taram 3 · 0⤊ 1⤋