ebay posts about the new IRS Rules ( the $600 Reporting Rule)

[my-cottage-books-and-antiques]

https://community.ebay.com/t5/Announcements/A-big-change-to-federal-tax-reporting-laws-that-will-aff...

[deangibson]

Note that if the IRS considers eBay sales as a self-employed income source, then all expenses associated with those sales may be deductible.  That may include portions of your Internet service & other sales-related expenses.

Check with your tax advisor as to how such expenses may be properly deducted.

My guess is this may be partially or fully rolled back.

[blank-fre]

Let's say I sell $600 of stuff but also purchased $1,000 of stuff. This would mean I sold a net -$400 of stuff. Would Ebay report purchases to offset sales?

[blank-fre]

I think Yellen helped made that happen. She claims to be concerned with the wealth divide but nothing I see from the wealth dividing policies when she was at the Fed or anything else as Sec of Treas indicates it. It's sad that we have such a high number of overpaid government employees in this country to warrant all the taxation.

[kh-gary]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread HERE if you wish to continue to discuss this topic.

Thank you for understanding.