[CatOwner]

The problem is you sell an item for $700.00 that you paid $400.00 for you are still paying taxes on the whole $700.00 not just the $300.00 profit.

What if that item you originally purchased for $400 would cost $1,000 to purchase new today. Now what?

[ropin71]

My wife and I used to sell on eBay. We would hit estate sales and flip items, making sure not to exceed the 20k for the year. Now I’m slowly selling off the duds and mistakes at a loss. Add to that the 25% eBay fees and sometimes I throw in shipping. So can I take a loss? I spent my money they already taxed to buy items, now they want to tax me to get some of it back? Gonna have to ask the accountant this year…