posted on March 5, 2001 05:11:37 AM
You may want to talk to a tax advisor or accountant, as income earned from Ebay sales has always been taxable. ( selling your personal property may be exempt, but items you purchased for the purpose of resale are not and never were )
posted on March 5, 2001 05:40:17 AM
My unprofessional opinion is that they'd love to get their hands on the juicy chunk of revenue that taxing eBay sales would bring in...
For that matter, the state sales tax folks would too...
AFAIK, as mentioned above, disposing of personal items is exempt. Items purchased and held for resale as well as business assets (those where depreciation was taken on Sced C) are supposed to be reported as business income.
Realistically, until more invasive technology is available and the gov't really puts their mind to it, the vast majority of non-business eBayers will likely never be scrutinized.....just think how likely you are to be audited in the real world....IMO, that's a good gut-o-meter....
