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Level 2

Question

I started selling on ebay, will I have to pay taxes on my sales at tax time?

Forum|Forum|4 years ago
July 6, 2022
7 replies
12 views

No text available

TurboTax Deluxe Online

Level 15

Mostly yes, but it depends on a number of factors. In general, you pay income tax on your profit, or net income. But determining that can be challenging, and you will need to keep really good records.

To start with, are you only selling your own used items? Or will you be buying and reselling inventory? Will you have a couple of sales a year, or will this be an ongoing business activity with an intent to make a profit?

Sweetpeas48048Author

Level 2

I will be buying and reselling, continually

Alumni - Champ

A Tax Filing Factsheet for eBay Sellers - TurboTax Tax Tips & Videos (intuit.com)