B Brett S Guest Mar 16, 2008 #1 can selling stuff through websites, blogs, or ebay be taxable? please an individual answer to each one
can selling stuff through websites, blogs, or ebay be taxable? please an individual answer to each one
V v b Guest Mar 16, 2008 #2 For income tax purposes, the IRS looks at how you acquired the item and how you are selling it. Items purchased for resale would be a business or a hobby and tax would be paid on the profit. Personal use items sold at a gain are taxable. Personal use items sold at a loss are not deductible.
For income tax purposes, the IRS looks at how you acquired the item and how you are selling it. Items purchased for resale would be a business or a hobby and tax would be paid on the profit. Personal use items sold at a gain are taxable. Personal use items sold at a loss are not deductible.
K kckid2 New member Mar 16, 2008 #3 In the US, sales are subject to income tax , federal and state. If they weren't, all sales would be via the internet.
In the US, sales are subject to income tax , federal and state. If they weren't, all sales would be via the internet.