do i pay taxes for unwanted things i sell on ebay?

Question

i just want to get rid of some junk. im an international student, does that complicate it? im in california

Answer 1

You probably don't owe any tax. If you are selling the items for less than you originally paid for them, there is no gain, so no tax. Being an international student doesn't change anything.

Answer 2

If you sell personal items at a loss, then it is not deductable. However, if there is a gain, then you need to report the income on Schedule D.

You may be required to collect sales tax in your home state. Many states don't require tax to be paid if you sell less than a certain amount in a year.

Answer 3

I would deduct the original cost basis. For example, if you originally paid $10 for an item with after tax dollars, and then sell it on ebay for $6, your loss is -$4, so you should use that as a tax deduction and claim a refund.

Why pay taxes on the same thing twice, especially if results in a net loss?

Warped and twisted logic will get you far in life.

Answer 4

Why would you expect to pay tax on something that is second hand? You've already payed tax on the item when you bought it new!