How much can I sell in a year before ebay sends a form to the IRS?

[mystic283]

How much can I sell in a year before ebay sends a form to the IRS?  How do you handle it if you are selling items you bought many years ago and don't have receipts and are probably getting about 25 cents to the dollar I paid?  In other words I am loosing big time but ebay is sending a form to the IRS saying I  made all this money when I actually lost.

[downunder-61]

I have read on the boards that it is now or soon to be $600 - some states may differ.

Please someone correct me if I am wrong.....

[popblox]

The IRS requires everyone to pay taxes on income/reportable gains. If you sell $600 or more on eBay, you’ll receive a 1099-k at the end of the year. 

Some people consider selling on eBay as a hobby and aren’t required to report that income if they just sell a few items here and there. The IRS has decided that $600 is the threshold between hobby and small business.

You’re not required to have to have receipts showing how much you spent on your inventory, the IRS accepts the fair market value to price your items.