ebay question?????

[r3ngels]

I read some of the thread about selling on ebay but it is too long for me to read it all, I was just wondering if anyone knew if you have to pay taxes on what you sell and does ebay charge the fee upfront or only if you sell the item? Thanks for you help I am trying to decide if I should sell items...

 

[kathi29]

Ebay does not charge tax to buyers or sellers. Some sellers will charge sales tax on your purchases if you live in the state they are selling from, but most of those are power sellers (or have an ebay "store") rather than the casual sellers.

Ebay charges a listing fee and final value fee on all auctions. If you list an item that doesn't sell, you can relist it and pay the listing fee again, but they will refund it if the item sells the second time. The final value fee is based on the selling price of the item.

 

[r3ngels]

Thanks for the help, if you don't pay sales tax do you have to pay income tax on what you sell?

 

[GAIL HAYDEN]

Originally posted by r3ngels
Thanks for the help, if you don't pay sales tax do you have to pay income tax on what you sell?

Only if you report your sales to the IRS. Right now, they cannot track ebay sales.