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required to report sales taxes on eBay?
I sell stuff on ebay from time to time. Am I required to report these sales on my taxes? If yes, why is not eBay and other auction sites I like about this google AdSense?
These people do not know really what they speak. Ebay is an online auction site, and such, it can be argued that everything that is willing to pay on this site is considered as fair market value of a product. As long as you do not sell the goods to a related person or a portion of interest may be considered as fair market value, b / c is Ebay market segment, and what they are willing to pay for it is considered the market value. You do not need to worry about selling things on Ebay, unless it is your main source of income (ie, it is your job). In this If you pay taxes on the difference between what you purchased and what items you have sold the items to the extent that these represent your expenses and income respectively. Hope this helps. – UPDATE TO RESPOND TO TAXMANNYC — Even if he is a CPA w / 10 years. experience he knows not what he speaks. Perhaps the means of the PCA can not move again. Here is an article that describes what I wrote in my response to your question above. I hope this allows the confusion. http://www.wired.com/news/ebiz/0, 1272,67035,00. html? TW = wn_tophead_7
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