All of the genuine Chanel ties I bought at Chanel Boutiques or at Saks
fifth Avenue (1995-2012 approx) have a gold metal keeper on the back.
However, a lot of the Chanel ties on ebay don't have that. Are the
latter genuine?
Thanks you for putting together that list. However, @jdfws (and many
others) asked "Will the IRS really just take our word without a receipt?
" The materials you listed do not specifically address the question of
"receipts" as far as I can tell.
@poppykiote If you are selling for less than you paid, which seems to be
the case with you, you won't owe any tax. While you must report the
1099K on your return, your net 1099K proceeds are reduced to $0 by the
cost of goods.
Your number 2 scenario is not a hobby sale if the sales are of your used
personal goods e.g your old sport coat below what you paid. (Note:
Personal use/consumption items such as used clothing are not treated as
capital goods, but as ordinary goods.)...
