turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I sell items on consignment, for a fee, on eBay. I don't own the stuff I sell, just charge a fee based on sale price for them. How do I handle the taxes?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I sell items on consignment, for a fee, on eBay. I don't own the stuff I sell, just charge a fee based on sale price for them. How do I handle the taxes?

The items belong to a non-taxable healthcare foundation, if that helps.

I sell items on consignment, for a fee, on eBay. I don't own the stuff I sell, just charge a fee based on sale price for them. How do I handle the taxes?

You probably need to talk to a bookkeeper if you don't understand this but in a nutshell...

 

Total gross sales are reported on the Sch C and then the amount you pay out to the owner will be an expense + any fees that ebay charges =  net profit that you pay taxes on the tax return  ... review a Sch C to see how that works.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies