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Hello, everyone! I posted awhile back about starting a home based (Ebay possibly) business. I got some really good advice. I also learned from a friend that (supposedly) if someone makes $400.00 or less it can be considered a hobby. An Ebay collectable business seems too time consuming at this time. My question this time is about a collectable hobby using Ebay etc. Is it this simple?: If I buy $200.00 worth of items & I sell $559.00 worth of Items then I don't have to deal with any additional tax forms because I am under the $400.00 limit. I would really hope that it's this simple. Is there some kind of "hobby" tax form that needs to be filled out? Thanks in advance!
Direct emails are welcome!

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