Do I have to pay my taxes from the items I sold on Ebay?

Question

I only sold items on ebay for about 4-5 months

I am 21 years old, Dependents by my parents

I am a college students.

I made prolly 800-1000 dollars from selling on ebay.

I was wondering if I have to tax still?

Thank you

I live in California, Los Angeles

I made Profits because The items I sell Fluctuate In Prices Every time.

ninasgramma · Answer

If this is your only income, you do not owe income tax.  If you had profit of $400 or more, you have to file a tax return and you will owe about 15% of your profit.  This 15% is for Social Security and Medicare tax.

Max Hoopla · Answer

You have to pay income tax on any profit.

Elaine M · Answer

It was income, it goes onto your tax return as 'other'.

Judy · Answer

yes

tro · Answer

if you are selling your own stuff, no, but if you also buy more stuff and then resell it this is self employment you report on Sch C and possibly SE as well

Slickterp · Answer

Yes, you do.

Rajesh c · Answer

I BELEOIEVE ITS INCLUSIVE

Do I have to pay my taxes from the items I sold on Ebay?

7 Answers