The only income I have related to this Schedule C self-employed business income/sales is the liquidation of misc items sold through eBay. Do I enter that amount under General Business Income?
It is common in my line of business that, even though I have no sales for a year, I continue to develop concepts and unsaleable models that might relate to a future paying project. So, I do have expenses/deductions to itemize for this business. That is not a problem, correct?
You'll need to sign in or create an account to connect with an expert.
It’s income if you made a profit.
Income is reported as income on Sch C. The IRS will only allow you to claim losses on your business for three out of five tax years.
Do I list eBay misc. sales as income?
It’s income if you made a profit.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Expat Online Teacher
New Member
justbecauseiwantto
New Member
jasontobin2233
New Member
jasontobin2233
New Member
Art302
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.