![]() |
Ebay stuff
Listed a turntable on ebay the other day. This morning I get a message from China about shipping. I am wondering whats up as I did not check off international shipping. I check my listing and discover that ebay now automatically chooses international. I had to go into my settings and opt out. Just letting you guys have a heads up.
The other ebay issue I have is they sent me a 1099 for $5900. I am ok with paying taxes but I am not sure how this works. I did not make $5900. Ebay took about 15% and I paid about $1000 for the the stuff I sold. Can I deduct that stuff ? |
Yes, you only pay tax on the realized gain.
Ebay's international shipping is crazy easy now. You send your stuff to a US location and they ship and deal with all the international hassle. |
Quote:
|
You can't deduct things like a home office or the use of a vehicle unless you function as a business or file a schedule C, but your "income" on any sale, be it ebay or whatever, is the sales price less the cost of goods sold, commissions and shipping. Theres a difference between "deductions" and the definition of income.
|
I sold a few thousand dollars worth of camera gear last year, but I paid more for it than I got. I can't see how the selling price less eBay fees is taxable.
|
Not too concerned . Taxes are low at my income level. There are only a few advantages to being old.
|
All times are GMT -8. The time now is 06:21 AM. |
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2025, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2025 Pelican Parts, LLC - Posts may be archived for display on the Pelican Parts Website