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eBay changes

Saw a post somewhere on here about feedback changing and peoples feedback numbers going up for those buyers that bought more
then one item from you. I just went and checked and my feedback number when up 30 some. And I had a message from eBay too.
So I open it and the first thing I notice is Sale to date: and how much I have made on eBay. So my question is, now they have a
running total listed, is it time the IRS might get involved and want to charge you tax on this?

Comments

  • WinPitcherWinPitcher Posts: 27,726 ✭✭✭
    You should already be paying tax on any sales you made minus any losses.


    Steve
    Good for you.


  • << <i>Saw a post somewhere on here about feedback changing and peoples feedback numbers going up for those buyers that bought more
    then one item from you. I just went and checked and my feedback number when up 30 some. And I had a message from eBay too.
    So I open it and the first thing I notice is Sale to date: and how much I have made on eBay. So my question is, now they have a
    running total listed, is it time the IRS might get involved and want to charge you tax on this? >>



    Your legally already suppoused to be paying taxes already. Right now the laws make it hard for the IRS to get into Ebay, but that could change in the next few years.
  • CariconCaricon Posts: 819 ✭✭
    I know that too. Also if I buy a pack of cards which I then pay tax on, and turn around and sell a card, why should I then have to pay tax again.
    Just the same story over and over. Oh well.
  • TreetopTreetop Posts: 1,474


    << <i>I know that too. Also if I buy a pack of cards which I then pay tax on, and turn around and sell a card, why should I then have to pay tax again.
    Just the same story over and over. Oh well. >>



    You can get a resell permit and eliminate taxes on the front end, but you should be paying a capital gains tax on any profit made from the pack of cards.
    Link to my current Ebay auctions

    "If I ever decided to do a book, I've already got the title-The Bases Were Loaded and So Was I"-Jim Fregosi
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