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
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
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.
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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