Ebay and Taxes

[bigss75]

I know the government is going after profits made from ebay/amazon, but what amount do you think is the minimum before I have to declare on my taxes
I probably sell around at most 1500-2500 dollars/year worth of used stuff like textbooks, baseball cards, and used household stuff.

I figure if I was making 10g or more it would be one thing to declare but mine is pretty much chump change.

 

[min0 lee]

When will this take place?

 

[Arnold]

you're supposed to declare all income on your taxes, but if you did not claim any of the Ebay profits it's not like you will get caught.

 

[TCAP28]

I know the government is going after profits made from ebay/amazon, but what amount do you think is the minimum before I have to declare on my taxes
I probably sell around at most 1500-2500 dollars/year worth of used stuff like textbooks, baseball cards, and used household stuff.

I figure if I was making 10g or more it would be one thing to declare but mine is pretty much chump change.

Actually, if there are your used old stuff, I believe you don't need to declare, because you are selling them at a loss. If you are buying other people's stuff and making a profit, then you have to declare.

 

[Arnold]

I am pretty sure that the IRS sees income as income regardless and it is supposed to be reported as such.

 

[bigss75]

Ive made about a grand this year selling textbooks and car audio equipment.

So the majority is saying I shouldn't declare unless this was my primary of source of income or if it was wholesale?

 

[FishOrCutBait]

Ive made about a grand this year selling textbooks and car audio equipment.

So the majority is saying I shouldn't declare unless this was my primary of source of income or if it was wholesale?

correct.

youll probably get away with it.

i have upwards of 8000 dollars unaccounted for added to my bank account, between tips and graduation presents from my family, and I havent had the feds knock down my door yet.