I'm married filing jointly. I have a full time job as a IT professional and my wife doesn't work. I started selling trading cards online this year as a way to make a little extra money. I have not created a legal entity for it yet. These are not cards that I have been holding on to. I find cheap cards and resale them. I have records for the purchases and the sales. Revenue would be something like 10k in sales, 2k in platform fees and 5.4k from purchasing inventory and 1k in shipping costs. Come tax time, how do I report everything? By the end of the year I could still have thousands of dollars in inventory how does that factor into things? Thank you.
