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Subject:  Re: Taxes on Ebay sales and basis of items sold Date:  1/7/2001  10:59 AM
Author:  L2J Number:  44007 of 127907

Hi Chuck,
I never thought of using schedule D to report eBay sales and a quick glance over of the instructions, I may be stretching to use. My amount of gain was quite small I first thought to report on schedule C, the instructions(C,)however, pointed me back to 1040 because this was more of a "hobby", as opposed to business started to generate income. Take a look at Pub.525 "miscellaneous taxable income". Also compare the instruction for schedule C and schedule D. If your time invested was as substantial as the amount gained you could benefit using schedule C and writing off your much of the activity you performed(purchased-ie. eBay fees) to obtain this income. You don't have to be a "declared" business operation, etc. to use schedule C. Good luck!

Know Foolin' 2001


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