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#1
03-23-2021, 10:33 AM
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Starting an Ebay Business
Not sure if this is the correct spot for this type of question. My apologies if it's not. I was wondering what are the necessary steps to make the transition from being a casual ebay hobby seller to becoming a sports card/memorabilia business? I know there are many here who have businesses on ebay and I'm hoping they can share their knowledge.
If I decide to sell my collection in 2021 on ebay, how would this be classified? Can I become a business and pay taxes as a business or do I have to pay taxes as a hobby? If it matters, this would be something I do in my spare time and I suspect it would take several years or longer to liquidate everything. And I don't rule out continued buying along the way as a way to make a few bucks as I enter retirement. Any tips would be greatly appreciated. 
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