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The tax question
So how does one calculate income from ebay that would be looked at by the IRS as taxable? There seem to be so many fees that ebay charges that in the end when I get a pay out from ebay to my checking account, seems pretty small. I would think those payouts would be my profit that would be turned into the IRS by ebay? Is that correct?
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comics-scifi-collectibles
Mentor3 years ago@Anonymous I like this report:
https://www.ebay.com/sh/fin/reportslanding enter the date range and download as a PDF
It will give you total with the shipping, fees and refunds subtracted.
You also should ask your accountant about subtracting the inventory cost ( whatever you paid for the item), shipping supplies that you have receipts for. Mileage to the post office if you don't have the mail carrier pick up ( it can really add up! )