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Reporting eBay Income For Tax Purposes

Personally, am no longer a seller, but here's just one thought from a seller's perspective:  If every seller who claims they have plans on leaving because of their outrage about reporting eBay income does actually leave, doesn't that mean less competition for the guys who decide to stick around? 

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Re: Reporting eBay Income For Tax Purposes

I totally agree. I have been making a profit of about $2500 a year selling used books on Amazon and eBay since Bezos opened up his site to third party book sellers 20 years ago.  Always filed a Schedule C and paid SE tax as well.  Never occurred to me not to do so.  It used to be pin money. Now it is Social Security supplement. I'm amazed at all the misunderstanding of tax law voiced in these many posts.

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Re: Reporting eBay Income For Tax Purposes

I became much less of a buyer on ebay when my sales income didn't land in my PayPal account.  As a non-professional micro-seller, that money felt like free money, easy to spend on ebay. With no flow into my PayPal, there is no easy spending on ebay. 

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Re: Reporting eBay Income For Tax Purposes

That's a choice, not a given. Hook your Paypal to your bank account and shop away.

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Re: Reporting eBay Income For Tax Purposes

I knew some jidiot was going to come up with this one.  

Taxes is taxes, no matter where they go. They come out of my bank account.

I don't have a problem paying taxes. I have a problem paying taxes on such a low income COMBINED with having to do all the paperwork on such a low income.

Prior, I wouldn't have to claim my pittance of an income because it wouldn't be reported.  Now I'm going to have to go through all the paperwork of doing it.

With a documented job for such a pittance of an income, I had to do very little paperwork. I could do EZ 1-page and be done with it. I didn't have to make sure I dotted all the i's & cross all the t's. It was usually just 10 boxes or less to fill out.

For an average income of $50/month, it's not worth it.  Everyone who resells on platforms KNOW how little income can be gained from it.  This is garage sale income we're talking about.

It's absolutely ludicrous.  And you didn't address the hypocrisy of it all. THAT'S the biggest complaint we have about this. Ritchie sends her cash overseas and sets up non-profits so they can donate to their own organization, they skirt the income laws . . . . yet the gov doesn't go after them people.  There's hundreds of thousands to be made on the rich hiding their assets. But they're coming after us yard salers.

That last part is the straw that breaks this camel's back.

Address that, not anything else.

I've found a FB group that specializes in one of my main products. I'm going that route.  Hopefully there's some people who'll be willing to pay in check or money order on that site.  

We'll see. I don't know why you're not mad about the hypocrisy of it all.  It makes me wonder about people like you.

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