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huaiming88
New Member

I sold some used items on ebay. The total income I received from PayPal was $200. I spent around $40 on shipping and postage. Do I need to report that income?

Besides selling items on ebay, I also drove Uber ($14000 before any expenses deducted) and worked (total income from all my jobs were $20,000) 

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MichaelDC
New Member

I sold some used items on ebay. The total income I received from PayPal was $200. I spent around $40 on shipping and postage. Do I need to report that income?

Probably not. You would report it only if you sold it for more than what you originally paid.

Most of the time, personally-owned stuff like cars, appliances, clothing, furniture, and other household items decrease in value after the initial purchase. If you later sell them, it's almost always for less than what you paid, so there's no gain to report. (Or loss – the IRS won't let you deduct losses on personal items.)

If you have any other details regarding this question, please feel free to post them in the comment section. 

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MichaelDC
New Member

I sold some used items on ebay. The total income I received from PayPal was $200. I spent around $40 on shipping and postage. Do I need to report that income?

Probably not. You would report it only if you sold it for more than what you originally paid.

Most of the time, personally-owned stuff like cars, appliances, clothing, furniture, and other household items decrease in value after the initial purchase. If you later sell them, it's almost always for less than what you paid, so there's no gain to report. (Or loss – the IRS won't let you deduct losses on personal items.)

If you have any other details regarding this question, please feel free to post them in the comment section. 

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