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| Topic | Selling on Ebay just got more complicated... |
| s0nicfan 05/11/22 6:57:57 PM #3: | holy_bolt posted... This was always considered taxable income lol, you just didn't have to report it if it was below a certain amount per year. On the flip side, if you bought it and then later sold less than you paid for then it is not taxable income. The difference is now you may have to <i>prove</i> to the IRS that you sold it for less than you paid for it. Hope you kept the receipt for anything you list on eBay, no matter how long you owned it! This. It's not that you're being taxed in some way you weren't previously. It's just that up until now you've been cheating on your tax forms by not reporting it, probably without realizing it, and technically you owe back taxes on all those sales. --- "History Is Much Like An Endless Waltz. The Three Beats Of War, Peace And Revolution Continue On Forever." - Gundam Wing: Endless Waltz ... Copied to Clipboard! |
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