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Returning Member

Sale of items through StockX

During the last year I began selling my sneaker collection through 3rd party websites like StockX. Some items were sold for profit over retail price and some at a loss less than the retail price. Since these were items were purchased over a period of years will the sale of the items be looked (and taxed) as income? 


2 Replies
Employee Tax Expert

Sale of items through StockX

Hello Gabriel,

The income you receive would need to be reported on your tax return and taxed

There are 2 ways to report the income.

1. If it is a hobby then the income is reported on schedule 1 for the full amount of the 1099 no expenses allowed to be taken

2. If it is a business then it would be reported on a schedule C (self-employed income). You would report the 1099 as income and then deduct the expenses you have against making that income.


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Returning Member

Sale of items through StockX

Thank you for your response. One last question, would the original purchase price of the items be considered an “expense” under option 2?

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