VictoriaD75
Expert Alumni

Deductions & credits

Sales tax is reported separately to the state and is not included on your Federal return.

 

If you are selling goods, you may have to report the income and expenses on a Schedule C. This is required for a trade or business, which is defined as any activitiy engaged in for profit.

 

If these are one-time transactions, you may be able to report as hobby income on line 8 of Schedule 1, "other income," rather than as a business.

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