Do you need to claim income taxes on things you sell on ebay?
When It is time to file taxes do you have to claim it as income?
Public Comments
- Technically yes, but you should use your judgment depending on how much you made. If you made a few hundred cleaning out your garage not a big deal. If you made $25,000 running a business I would say definitely pay your taxes.
- If you were just selling some of your old items, and were selling them for less than you paid for them, then no, you don't have any gain so don't have anything you have to claim. But if you are buying things for resale, or selling things that have appreciated since you bought them, then yes you have to claim it as income.
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