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Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order

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InvisibleThe Professional
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eBay and the IRS
    #12002462 - 02/10/10 03:30 PM (11 years, 3 months ago)

If I were to set up a successful eBay shop will I need to report my earnings to the IRS?


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OfflineS4mm1ch
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Re: eBay and the IRS [Re: The Professional]
    #12002600 - 02/10/10 03:48 PM (11 years, 3 months ago)

of course thats the law isnt it  :shrug:


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Invisiblebadchad
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Re: eBay and the IRS [Re: The Professional]
    #12003068 - 02/10/10 05:02 PM (11 years, 3 months ago)

Legally, you should.  In reality, it would be difficult for them to account for the money.  Technically, they could track down all your auction activity, but that's unlikely IMO.

It's like being a bartender, server, barber, etc.  Or anything other occupation that operates largely by exchange of cash.  You can't really track it.


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OfflineABR516
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Re: eBay and the IRS [Re: badchad]
    #12004703 - 02/10/10 09:24 PM (11 years, 3 months ago)

personally i would just under report it so you are in a decent tax bracket and they dont get suspicious if by some longshot they happen to notice your spending and deposits without seeing any income

edit: this ^ was assuming you dont have any other means of income or job....if you have another job that gets reported to the irs on its own then i wouldnt report any of your ebay income


Edited by ABR516 (02/10/10 09:26 PM)


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Offlineveda_sticks
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Re: eBay and the IRS [Re: ABR516]
    #12004805 - 02/10/10 09:42 PM (11 years, 3 months ago)

it depends on how you are being paid. anyuthing g oing through yoiur bank account is easily traceable


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Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order

General Interest >> Money Matters

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