eBay

dragonsmoke6969 · ‎02-09-2025

I've done some digging around and it was suggested that we hobbyists lobby together and spread the word to write the IRS tax reform division. I'm going to start discussion groups on all the platforms I use and anyone else that will listen. The main point being that the laws are forcing hobbyists to become businesses. Website to follow.

https://www.taxpayeradvocate.irs.gov/submit-a-tax-reform/

lux.ra_14 · ‎02-10-2025

@vtgbeersigns wrote:
What you don't understand Mr. eBay Schill, is I pay more taxes on my W2 because I have to itemize from eBay sales. I don't have an LLC. There's not enough itemized deductions for the W2 vs 2017 yet the standard is up substantially. I'm not wasting any more time relying to nasty people on here that think they know it all.

Do you use Schedule C for your non-W2 income? That's where you would account for eBay income and all of your allowable deductions (fees, postage, supplies, etc.)

It's a simple form. You don't need an LLC or anything complicated.

mam98031 · ‎02-10-2025

@vtgbeersigns wrote:
What you don't understand Mr. eBay Schill, is I pay more taxes on my W2 because I have to itemize from eBay sales. I don't have an LLC. There's not enough itemized deductions for the W2 vs 2017 yet the standard is up substantially. I'm not wasting any more time relying to nasty people on here that think they know it all.

You may not agree with what I post and that is just fine. It neither makes me a "schill [shill]" nor does it mean anything I said was incorrect. It ONLY means you disagree with me. Which is absolutely fine. I take no issue with that. But be civil. Calling people names has no place here. We are all suppose to be adults.

A W2 has absolutely nothing to do with Ebay sales. While you may disagree with that, it is factual.

https://www.irs.gov/forms-pubs/about-form-w-2

And yes, you very well may pay more taxes on your income earned from your employer which is reported on your W2. That is absolutely likely.

For internet sales on sites such as this one. If you meet the minimum threshold of $5,000 for the 1099K to be released, then you will receive this form too. So you would have your W2 and your 1099K as two forms needed for creating your federal income tax report. And of course you may have other forms that offer other numbers you have to report as well.

FYI, I didn't say anything about an LLC. Many seller have them and others function as Sole Proprietorships.

IDK what 2017 has to do with the discussion, so I won't address that as I don't know why you bring it up. Most are working on their 2024 tax returns.

I wish you the best however you decide to handle things. 😍

mam98031 • Volunteer Community Member • Buyer/Seller since 1999