in [Event] MetLife + TurboTax | Ask the Experts About Your Taxes
My husband made $6,800 in 2024 from his side gig on Ebay. Do we have to file the $6,800 as an income?
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Absolutely yes. ALL of your combined income goes on your joint return. The "side gig" is self-employment income.
SELF EMPLOYMENT INCOME/“side jobs”
If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare, you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses.
https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922
If you live in a state with a state income tax, you might need to make estimated payments to your state.
https://turbotax.intuit.com/tax-tips/small-business-taxes/the-home-office-deduction/L1RZyYxzv
https://turbotax.intuit.com/tax-tools/calculators/self-employed/
Yes. If you sell and buy articles on eBay in order to earn money, the IRS will likely classify your sales activities as a business. This means you will have to report net income from eBay sales. Report your total gross income on Schedule C, then reduce it to net income by subtracting the amounts you spent for allowable business-related expenses.
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