 Are we going to lose out on our tax return just because we got married? |
| Last yr my tax return was around $4500 and my fiance's was about $3700 thanks to EIC. Now I'm finding that because we got married we cannot file separately if we want EIC. We have to ... |
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 My son is 18, living at home.. been working for the last 5 months can claim taxes this year, can i claim him? |
| My son is 18, living at home with me. He has been working for the last 5 months and can claim taxes this year. can I still claim him this year also?... |
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| IRS agents: Is there any law in fine print that tells me I have to pay my federal income tax? |
| As far I as I am understanding, there really isn't a law. Should I stop paying my federal income tax?... |
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 Pelosi says more stimulus needed, Bush "in denial"????? |
do u guys agreed that we do need MORE stimulus payment??
http://news.yahoo.com/s/
for me to be honest.........what i think they should ... |
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 I married on 11/20/06. I legally changed my name.1 of my w2 statements has maiden name. Do I need new w2? |
| I held four jobs in 2006. I was married on November 20, 2006. I changed my name with social security in mid December. I received a new social security card with my married name. I contacted all of my ... |
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 If I owed money, will my stimulus package come in a paper check? |
| I owed money this year but received that note saying how much money I will be getting for the stimulus package. My mom told me (who did my taxes) that she had my direct deposit info listed but it'... |
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 What''s the worst that could happen, if I lost my social security card? |
| Pretty much, what is stated above. ... To me, it almost sounds like it would be beneficial to hand out my social security card to illegals. I know how bad this sounds, but with what I am told.. it ... |
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| Did I really win the united kingdom lottery?? |
| A frew days ago I received a mail from the suposedly National Lottery from the United Kingdom saying that I won 2 million dollars, and they told me that if I what to receive my cheque from the United ... |
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 Please help me!!!? |
Help Hubbys company and tax office haven't got tax code right for company car benefit and fuel benefit. We now have to pay £2000 in 3 months and i'm about to go on maternity leave!!
W... |
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 Can i claim to be independent if i live with my parents? |
I have a job
I'm 19
I'm not going to school yet
My dad pay insurance for ... |
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 Can the IRS take his savings or checking account? |
| My fiance owes money to IRS but he has a payment plan that he is paying and he is planning on opening a savings and checking ... |
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 What is tax evasion? and can you serve time for it? |
| if someone hasn't filed taxes in several years and is getting paid in cash can this be considered tax evasion? if so, how much time can a person serve for this? no records of money paid, no w2&#... |
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 Stimulus Check Question.? |
| I was just wondering, When will my family recieve one if the last two digets are 98?... |
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 Why do so many people want to get a tax refund? |
| Isn't a refund simply a payment for an interest free loan to the government? Wouldn't it be better to simply have no refund and owe no taxes at the end of the year?... |
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 I am 27 years old and have never filed an income tax return. I want to resolve this. What do I do? |
| I want to have a tax preparer file all the back tax returns since 2000. Can H & R Block do this? Also, I think for the first 4 years I was owed a refund, but I think the last couple years I owe. D... |
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lacoste042 | If you buy things with the intent of selling on EBay is that income you have to claim? |
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 |
 
ninasgramma
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The income is the money you received for the sale on ebay. Your costs include the money you spent to purchase the items to sell on ebay.
Assuming you are selling the items on ebay to make a profit, you would report this activity as self-employment on Schedule C. You would deduct the money you spent on items for resale, as well as other expenses such as shipping, packing materials, driving to the post office or to purchase items.
You may have a profit (taxable) or a loss (which would reduce your taxable income). |
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ditdit
 |
you bet! and you can print up your activity from"my Ebay" to make it easier to figure expenses and income. |
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Wayne Z
 |
You have a profit motive so, yes, it is taxable. |
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Judy1
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If you actually sell them, yes, it's a taxable transaction. |
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bostonianinmo
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If you turn a profit, yes. |
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Eliza Y
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Yes if you make a positive income sale on it. Think about it this way...manufacturers sell something for let's say 1.00 a unit and then the buyer turns around and sells that for 2.00. That person must claim that dollar income. Ebay doesn't give you a income/tax statement at the end of each year or anything but I would still claim it in fear of being audited. However anything you use to buy or sell that item can be tax deductible (cost of doing business). |
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TheAnswer
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no why would you have to claim something only you know about. |
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HD
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only if the capital gain is above a certain amount for the year. it is unlikely that you will audited for buying beanie babies. however if you have no other income to report and you make that your full time job you will want to track the revenue and expenses and fill out a schedule C |
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