I have entered my ebay sales under hobby. Doing this reduced my tax refund by $1500. This seems crazy!
I sold used items. Totaling $4900 in sales that probably cost more. When I put the cost in as the same as the sales my tax refund remained at $1500 less than it was.
Why would I pay $1500 in taxes on $4900 worth of used crap sales?
Please help me put this in turbo tax another way so that it isn't hurting me.
Thank you!
