I sold on ebay last year and made a little over $5000 in sales therefore I received a 1099k. I sold around 30 items give or take. Most of the items sold were from my old game collection, some of it still sealed. I bought these games for personal use years ago, but never got around to playing them, hence why some of them are still sealed. I decided to sale these to make some cash to fuel other hobbies, but alot of the items sold for more than what I paid for them netting me a nice little profit that is taxable. I have looked at a number of other posts and I know there is two ways I can go to file my taxes this year. Go as a business seller and file a Schedule C or go as a hobby seller and file under Schedule D for personal items sold for a profit. After reading I think I should be classified as a hobby seller and file Schedule D for personal items. I know I will have to list each item individually and I do have past invoices of the items from years ago in my email logs so I can use the original cost of the item when listing each item. I am using Turbo Tax online, after listing a few items it also asks me if their is any selling expenses I want to list. After doing some research I found out ebay seller fees and ship and handling fees can be considered as selling expenses. Can I take these as deductions when I file under a Schedule D as a hobby seller. Any info or help to my problem would be greatly appreciated.
