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Self employed
Hello MGrey, What a nice way to recycle! The Ebay sales you describe may not be subject to income tax if they qualify for "occasional garage or yard sale" treatment. https://turbotax.intuit.com/tax-tips/self-employment-taxes/a-tax-filing-factsheet-for-ebay-sellers/L...
This is assuming the resale price received was less than the original cost of the item. Also, please see the link provided for more information regarding classification as a Hobby or Business in lieu of Garage/Yard Sale. As a general rule, if you make a profit you are probably operating a business. Garage/Yard Sales are normally recapturing a small portion of the original value = loss on the sale.
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‎August 31, 2022
12:55 PM
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