ErnieS0
Expert Alumni

Get your taxes done using TurboTax

Yes,. The IRS requires you to report all taxable income and selling an item at a profit creates taxable income.

 

If you sold something, there probably was a cost to you so the taxable amount would be the sale price - eBay fess - your cost = profit/loss. If you sold at a loss you probably would not be able to deduct the loss. Losses on the sale of personal items are not deductible.

 

What is Taxable and Nontaxable Income?

 

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