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Author: milleniumfalcon Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Half.com: What Can I Expect? Date: 12/30/2001 3:39 AM
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I have been working my patootie off to get out of debt these last few years. My plan is a great success given that I have gone from 17k to less than 3k in a matter of 2 1/2 years. (Yeah for me!!)

Part of that plan is selling stuff on half.com. I have met with great success for the past 10 months to the tune of almost $1,500. So I am wondering about a couple of things.

1. When I do my taxes ought I count this as a sole proprieter biz to save on taxes?

2. Does half.com send any type of statement regarding taxes to me? Like a 1099 or something?

3. I have spent quite a bit of monies on postage...is that a business related write-off? What kind of write offs are available if I use my home office to do thins kind of work? Internet use? Computer use? Etc....

Just asking about the preliminaries, since I know I have some time.


milleniumfalcom
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56463 of 121219
Subject: Re: Half.com: What Can I Expect? Date: 12/30/2001 11:22 AM
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Part of that plan is selling stuff on half.com.

First we need to clear up what you're selling. If you're having an online garage sale and selling personal-use stuff for less than you paid for it, you have no taxable income (and no deductible expenses) and a neater house.

Phil Marti

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Author: havenot One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56505 of 121219
Subject: Re: Half.com: What Can I Expect? Date: 12/31/2001 1:26 AM
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I've sold with them for a while, not more than a few hundred bucks, but have never seen any tax notice from them. If you dive deep into their site they have some tax info, though it is only enough to cover them-- you should check with the IRS.



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Author: milleniumfalcon Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56553 of 121219
Subject: Re: Half.com: What Can I Expect? Date: 1/1/2002 4:50 AM
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First we need to clear up what you're selling. If you're having an online garage sale and selling personal-use stuff for less than you paid for it, you have no taxable income (and no deductible expenses) and a neater house.

Excellent. That's exact;y what I have been doing.

One man's junk....


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