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What income taxes do I have to pay from eBay?
If I sell items on eBay, do I have to pay taxes even if it is not a business?
Asked by scnd682
Posted: Wednesday, June 20, 2007 | Found in Legal Issues
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You will need to check with your local state laws for taxes as they relate to what you are doing. But essentially, if you are selling items on eBay, it is a business and any profit generated on sales should be included as taxable income for state and federal purposes. Visit with your tax advisor for more specifics.
Pam Newman is a Certified Management Accountant, author and Certified QuickBooks ProAdvisor for Financial and Point-of-Sale software. She is also president of RPPC, Inc., which provides customized business development services.
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