For the Casual Seller on eBay: Do you report your income?

[Jantz]

There are ways that you can write it off, such as it being a hobby of yours

Jantz

[Brian Van Horn]

I have always reported the income I made from sales regardless of whether or not it included eBay.

[FUBAR]

I plead the 5th!

I only sell in Vegas, so what happens in Vegas, Stays in Vegas!

[FUBAR]

on the flip side, if we lose money, do you think they would give us a tax break?? i think not!!

[steve B]

I do a bunch of stuff besides cards, the last few years mostly collectible racing bikes and parts. I treat it as a hobby business, since I usually buy far more than I sell I don't have any reportable profits. I also don't make any attempt to write off the "losses" either. But if they demand an accounting I will.

Steve

[CardTarget]

Originally Posted by FUBAR

on the flip side, if we lose money, do you think they would give us a tax break?? i think not!!

Uh, yea... of course they will. All they care about is the total money you MADE from the activity as a whole. If you lost money on one sale and made money on another sale and they cancel out then you won't owe anymore.