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hypothetical for taxes
If you have say 2,000 in ebay sales and after expenses- fees+, cgs, mileages, shipping, packages and other legitimate expenses you cleared 500- do you have to file? I know you owe no taxes. thanks.
2 comments
woodland_gnome
·2 years agoIt depends on your total income from all sources. Also whether you are a dependent on someone else's return. See https://www.irs.gov/newsroom/who-needs-to-file-a-tax-return (covers 2022 tax year only but gives you an idea)
ETA: Note if your Schedule C (which most sellers would use) bottom line is over $400 you need to file to calculate Self-Employment Tax(Social Security, Medicare) even if you don't owe any income tax.
house*of*paws
Mentor2 years agoHi @mountainpoppop
You're always supposed to 'file' if you've earned any income. It doesn't depend on whether you owe tax.