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?

posted

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.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

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?

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?

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?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

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?

Do you have an Intuit account?

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?

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?

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert