So, every week you go through your baseball card or memorabilia collection and see what you can part with in order to place a couple items on eBay. Every week you make a couple hundred bucks on everybody’s favorite online site and it is really nice because it gives you a little more cash that you can put toward your hobby and the wife can’t find out about it:)

Then, one day you get a letter from the IRS stating that you owe three years in taxes that you never reported from your eBay sales.

According to everything I have read, and also what I have been told from my accountant, is pretty much if you take in money at a rummage sale, sell something on eBay or take in money for babysitting your nephew, everything is taxable as income.

Now, I don’t think that this means eBay will be sending you a tax form any time in the near future, but it does mean that the IRS expects you to report all income you take in on the Bay.

This can be kind of scary if you think about it. Does anyone have any thoughts on this?

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