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Is eBay income taxable? Do I have to pay taxes on that income?

Do I have to report that income to the IRS? I sell gently used clothing that we have outgrown.

 
Anonymous

Asked by Anonymous at 5:54 PM on Jan. 29, 2011 in Money & Work

This question is closed.
Answers (14)
  • Yes ebay income....and any money earned, is taxable. One site that explains it best: http://www.moneybluebook.com/are-ebay-sellers-required-to-pay-income-tax-on-sales/
    Mom2Jack04

    Answer by Mom2Jack04 at 6:26 PM on Jan. 29, 2011

  • Yes you do, small business or not. I'm a tax preparer, many people try to act as if they did not make money but if you made money from any sources you need to report it.
    DomoniqueWS

    Answer by DomoniqueWS at 6:04 PM on Jan. 29, 2011

  • My dd sells on Ebay but she said she doesn't have to pay taxes bc it's considered the same as having yard sales. She doesn't make zillions of dollars either
    Anonymous

    Answer by Anonymous at 6:19 PM on Jan. 29, 2011

  • It is - you should check with an accountant or other tax person to find out how to claim it (and how much you have to make before you do).
    Scuba

    Answer by Scuba at 5:56 PM on Jan. 29, 2011

  • Technically yes. But unless you run a small business with Ebay you prob dont have to worry about it. Any income should be noted. Id read the fine print with Ebays transactions. Taxes might already be taken out. Not sure. GL
    Steph319

    Answer by Steph319 at 5:56 PM on Jan. 29, 2011

  • I think it depends on how much you make in a year selling on ebay. I want to say that you pay taxes if you make more than $400, but I'm not sure if that's right.
    DigiScrapperMom

    Answer by DigiScrapperMom at 6:06 PM on Jan. 29, 2011

  • I agree with Digi but I was thinking it was over$700...
    But_Mommie

    Answer by But_Mommie at 6:17 PM on Jan. 29, 2011

  • nope according to H&R Block she was right $400 or more.
    But_Mommie

    Answer by But_Mommie at 6:20 PM on Jan. 29, 2011


  • I've never reported money made on Ebay to the IRS. I've never thought to ask.
    KairisMama

    Answer by KairisMama at 6:20 PM on Jan. 29, 2011

  • It is taxable, but only if over certain amount. If you are using tax software you simply enter the amount and it will tell you if you are over or not. Yard sales are taxable too I hate to say. Those are a lot harder for the government to track you down on though LOL!
    aeneva

    Answer by aeneva at 8:20 PM on Jan. 29, 2011

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