[Stupe the Second Sacker]

Originally Posted by steve B

When I was selling a lot on ebay, most of my stuff was inexpensive. And even my better items had cost me very little.

What we did was report it as a hobby business, and simply made our cost 0 paying tax on the full gross.
That was actually close enough to reality that the time spent on documenting the cost and profit for everything would have "cost" more than we paid.
And hobby businesses as far as I know can't claim losses.

Did I overpay on taxes? Yes, I sure did. Did I save hours of paperwork? Yes.

I have a problem with that just on principle. My paycheck is being squeezed enough.