ebay business schedule c
Ebay seller casual – the income tax form should I use?
I just sold on Ebay from time to time, cleaning the old stuff home. But some things I sold on demand, so I ended up making about $ 600. Which tax form should I use to report? The Annex C says only form of business to use this way of doing business on a regular basis, do not use this form to report the income of a hobby, but use the "line 21 for other expenses" to report instead. But the explanation of line 21 does not fit well. Is it necessary attach a form? The IRS website lists the income eBay as a business expense or capital gains … but the form of capital gains is not as it applies to all sales on eBay. I simply do not understand all this nonsense IRS – can someone help me if you please? You can not afford to hire a CPA, but I do not want any trouble for not declaring income
You put it right in 1040. If using a time line of 1040 will be 21 in other income and income type Hobby and not engaged in business to make a profit. Remember it allows you to deduct the cost by selling things on eBay, but you can not claim a loss of revenue hobby. See section 426 for the year more information Income hobby.
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