eBay is the best place to start selling online! Millions of shoppers want to buy your new or used items, and it's easy to sell online and make money.
Question on how to figure taxable income On the monthly eBay statements, it shows 'Payouts', 'Shipping Labels' and 'Refunds'. Would I subtract the shipping labels and refunds from the payouts figure to arrive at net taxable income? 03-25-2025 04:10 AM Posted in Selling latest reply...
It is good to keep records of your expenses and cost of items sold (with receipts) if you want to lower your taxable amount reported. You do not need to a permit or license. Usually will get reported and attached to your SSN and Ebay will give you a 1099-K in January of each year...
You ARE a business when it comes to selling on ebay. You source those items specifically to sell. You didn't "sell it at a loss". You used it, then sold it used. No different than selling your used clothing. You are also not understanding how taxable income works. You don't get...
You can use Schedule C to report your gross income from the business, and to deduct business expense. These can include: The cost basis of your items sold as described above for capital gains or losses. Other normal and customary business expenses. This can include eBay fees, shipping and ...