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If I made approximately $2000 selling items on ebay do I need to report it on this years taxes?

 
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If I made approximately $2000 selling items on ebay do I need to report it on this years taxes?

All income from all sources regardless of the amount is reported on a federal tax return.

If I made approximately $2000 selling items on ebay do I need to report it on this years taxes?

did you get  a 1099-K from ebay? If so, what is the dollar amount?

 

If you sold personal items you did not make any money if you sold them on eBay for less than you paid.

 

@andreavassiliou 

Cynthiad66
Expert Alumni

If I made approximately $2000 selling items on ebay do I need to report it on this years taxes?

It depends.  If you sell and buy articles on eBay in order to earn money, the IRS will likely classify your sales activities as a business. This means you will have to report net income from eBay sales.

 

Report your total gross income on Schedule C, then reduce it to net income by subtracting the amounts you spent for allowable business-related expenses.

 

Use this link for additional information:  Factsheet for eBay Sellers

 

How to fill out schedule C

  1. Open or continue with your return.
  2. In the Search box type schedule c.
  3. Click the “Jump to schedule c” link in.
  4. Answer Yes to Did you have any self-employment income or expenses?
  5. Follow the onscreen instructions to enter your Schedule C information.

@andreavassiliou

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