Online Taxes (eBay)

[Boo]

Originally Posted by Meets1

wouldn't income tax be based on the gain- e.g. you have a cost basis for each card and then you're paying tax on the gain not unlike a stock? Deriving a cost basis for each card would be a fun exercise

[go_steelers07]

I still don’t understand how any of this is debatable.....




Taxes are optional... duh

[Dame]

Originally Posted by Meets1

wouldn't income tax be based on the gain- e.g. you have a cost basis for each card and then you're paying tax on the gain not unlike a stock? Deriving a cost basis for each card would be a fun exercise

Buying singles and flipping ftw! You only get taxed on the actual profit made.

[solt0131]

Originally Posted by go_steelers07

I still don’t understand how any of this is debatable.....




Taxes are optional... duh

It's the #1 best debate on this board.

[go_steelers07]

Originally Posted by solt0131

It's the #1 best debate on this board.

[BigZigBoom]

I see job security.

[RogerGodahell]

I always get confused and ill just have to wait and see what happens. I'm illiterate when it comes to ebay sales. I thought it was is you have more than $20,000 in sales and 200 sales or something like that that triggers a 1099-K. I believe you need both of those requirements not one or the other but i could be wrong. There's many CPA's on here who can tell you. You Should play the taxes but if you don't that's up to you at your own risk.