These companies will notify the IRS if you sold over 600$ through the year ? Anybody know how to file taxes on things that are used / no receipt / don’t remember the price ? What stuff you can write off ? Shipping supplies ? (Do you need receipts for that ) ?#
Lol no wtf The worst that happens is you somehow get audited and they ask you to pay the tax. Which you would’ve done anyways if you just paid upfront. Literally zero upside in these situations to being honest with taxes
That’s before , now the IRS get notified .. so you will get audited https://www.bloomberg.com/news/articles/2022-01-13/uncle-sam-wants-a-piece-of-your-side-hustle-in-irs-crackdown
Taxed on what? If I sell a used jacket of mine, do I have to pay taxes on it? That’s a double whammy. I paid sales tax already.
You suppose to keep receipt and then tell that you've made no profit. But paypal/ebay will report you with all sales. Pretty easy think to do though
How do I have a receipt from something 10 years ago?
U just put the value in misc form