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How much can I sell without adding it to my income taxes?

How much can I sell per year without adding it to my income taxes?

I live in Minnesota, if that matters.

Message 1 of 33
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32 REPLIES 32

Re: How much can I sell without adding it to my income taxes?

Of course the IRS has a minimum for filing. (Unless your sole income is social security/Social security disability)

 

If you have income below the standard deduction threshold for 2023, which is $13,850 for single filers and $27,700 for those married filing jointly, you may not be required to file a return. However, you may want to file anyway.

Guide to filing your taxes in 2024

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Consumer Financial Protection Bureau (.gov)
Message 31 of 33
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Re: How much can I sell without adding it to my income taxes?

At least the accountant fee is deductible next year. 

Message 32 of 33
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Re: How much can I sell without adding it to my income taxes?

If you are actively running a home business you can take mileage, a % of home expense and costs to sell off your gross income. I am retired so not high income but I have never paid in Federal because I sell on line and have done so for years. You should be showing some + income some years but it does not have to be huge. Talk to your Tax Person. I always have a bunch of miles from looking for items to sell. I can go an easy 100 miles a day if I spend the day look between towns for resale items. Helps to have a Car which gets over 50 MPG most times of the year.

Message 33 of 33
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