Does the IRS patrol Ebay looking to collect income from sellers? Does anyone have any first or even secondhand knowledge of sellers being pursued by the IRS? Does Ebay cooperate in giving out this information? Exactly how much do you have to sell to be considered a “business?” I am assuming they would not be interested in the sale of a few old purses and Grandma’s old quilt. Or would they…..
2007-08-06 08:29:14 · 2 answers · asked by Ms_LaLa 2 in Society & Culture ➔ Other - Society & Culture
I have been consistantly selling on ebay for more than 6 years and 2000 transactions. I have never received anything in regards to the IRS.
Internet sales are not taxable unless you own a business at which time you are required to collect sales tax from buyers living in your SAME state and that must be reported to the IRS. selling random items on ebay is tax free for now....look for that to drastically change over the next several years.
2007-08-08 14:55:05 · answer #1 · answered by proud2btysmom 4 · 0⤊ 0⤋
Certainly here in the UK the Tax Office pay attention to Ebay sellers!! There are entire departments dedicated to this. And no, they aren't interested in you selling grannys old quilt - more if you are selling a lot of stuff similar!
2007-08-06 15:32:34 · answer #2 · answered by Sal*UK 7 · 0⤊ 0⤋