Locked
Discussions in this board are limited to the original poster and Community Mentors
Tax Question…… Schedule C or Capital Gain???
I am seeing both these categories mentioned as the way to declare eBay income to the taxman.
If someone is clearing out personally owned items and not making a profit then as I understand, it is not taxable income. Does it need to be declared?
How do I reconcile this income that is included on a 1099? Will the IRS consider these sales as capital gain or loss?
Schedule C is business income. I am selling off things to downsize our possessions. Some of this stuff has been around for 30-40 years. I can’t prove what I paid for much of it…….
Thanks for any insight.
good selling!
Michael w1rc
0 comments
