posted on September 13, 2000 06:54:32 AM
Nute -
At the point you make ANY profit, the IRS expects you to declare the income and show your proff of any expenses you might have against that hobby.
That might or might not make you a business, depending on the state and city's requirements for a "business license" ... I declared money I made from a "hobby" for several years. It was unexpectedly profitable. And a "business" that loses money too many years will be cdeclared a "hoby" by the IRS for tax purposes.
posted on September 13, 2000 09:11:57 AM
Everyone,
The subject of PayPal has begun to dominate the eBay Outlook Forum. I am going to lock this thread, along with several other PayPal threads, and ask that you either post to the remaining PayPal thread in the eBay Outlook, or that you start a thread in the Partner Services Forum.
Thanks for your cooperation.
Pat
[email protected]
[ edited by pattaylor on Sep 13, 2000 09:12 AM ]
