Yes, you must include all your income, whether it is reported on a form or not.
You have two choices of how to enter the income, depending whether or not you consider this a business.
If you enter the income on Schedule C, you may take expenses of sale as well and include your cost.
However, since this is probably not a business, you can enter it as other income. Follow these steps to do the second option.
- Federal Taxes
- Wages & Income
- Less Common Income select Start (or Update) for Miscellaneous Income....
