How much money can you make on ebay before you have to claim it to the IRS?

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  • How much money can you make on ebay before you have to claim it to the IRS?


Answer #1 | 20/12 2013 06:27
If your gross earnings from self-employment are over $400, you MUST file a return and may have to pay. Even if the net profit is less than $400, you still have to provide the numbers to establish that fact. If you are already required to file a return due to other income -- earned or unearned -- you must include every dollar of gross self-employment income.
Positive: 35 %
Answer #2 | 20/12 2013 07:03
Positive: 29 %
Answer #3 | 20/12 2013 08:26
yes this income will be reported by you on Sch C and when you arrive at 'net' amount, anything over $400 will taxable at least for self employment tax, Sch SE, 15.3% depending on what this net is it may or may not be taxable for income tax, as a single person without dependents your non taxable income is $10K for Calif. your standard deduction as a single person is $3906 so some of your self employment money may be taxable
Positive: 9 %
Answer #4 | 20/12 2013 20:45
Yes, you must report it. Officially, the answer is $400. If you make $400 or more, then you are required to file, report the money, and pay "self-employment tax". Unofficially, the answer is $600. If it is under $600 and you break the law by not reporting it, you might not get caught. If it is over $600, you'll get caught. And, yes, you would have to pay state taxes. In California, the limit on how much you can make without having to pay state taxes is more than the $400 and $600 figures that I mentioned earlier, but less than $4000. I think it's around $3800, but I could be wrong.
Positive: 10 %
Answer #5 | 20/12 2013 03:47
YES and YES and YES again as a self employed independent contractor 1040 FIT return along with the schedule C and the SE oof your FIT return for the 2013 tax year during the 2014 tax filing season for this purpose and time in your life. Required by the local taxing authority in your local area for you to contact your local taxing authority and let them register you for this purpose and get copy of that form so that you can make copies when you are going to buy items to for you to resell out to the public and show you how to and explain to you that you do have to be a registered sales and use tax collector for them and what forms and schedule that you will have to use to correctly send to them the amount of sales and use taxes that you did collect for them during each period of time as you are required to do OK. Federal taxes social security, medicare taxes plus your federal income tax amount that you will owe and need to make the quarterly estimated taxes during each tax year for this purpose and time in your life. Self employed independent contractor sole proprietor using your name and your SSN as your TIN number for this purpose of your own business operation at his time. Self employed independent contractor using your daily written receipt book records to report your gross income or loss on the schedule C or CEZ along with the SE to determine your NET PROFIT or LOSS from your business income during the tax year for this purpose. SE your social security medicare tax amounts that you would OWE on your NET profit amount that would end up the page 1 line 12 from the schedule C and any SE tax owed page 2 line 56 and page 1 line 27 Deductible part of self employment tax attach schedule SE line 27 $$$ amount. Starting, Operating, or Closing a Business Starting a Business Starting a business could be exciting. If you're considering starting a business, start here. This section provides information on everything from a checklist for a new business, to selecting a business structure, and more. ed/Starting-a-Business ses-&-Self-Employed/Starting,-Operating,-or-Closing-a-Busine ss Hope that you find the above enclosed information useful. 12/20/2013
Positive: 10 %

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