furb
Super OPE Member
- Local time
- 6:00 AM
- User ID
- 4547
- Joined
- Nov 8, 2017
- Messages
- 324
- Reaction score
- 1,036
- Location
- Womelsdorf
I sell some stuff on the classified and eBay. It’s not really profitable. If I buy five saws and want one, I try to sell the other four to offset the price of the one I’m keeping. It works out but by the time I’d factor in expenses I’m in the hole. I don’t get receipts when I buy these generally so I’d be liable for the whole amount the four saws sold for. Example, I buy five parts saws for $250, drive 50 miles to get them and sell four of them for $250 through PayPal I’d pay tax on $250 minus $.55 per mile. It looks like friends and family are exempt from reporting. Locals are generally flakes to sell to. Does anyone with a better understanding have a plan? I have a 15 year collection to shrink but don’t know how to proceed with reporting if it becomes necessary.