Anybody know? Ebay just seems like a really good selling tool and I wondered if the people who do sell have to claim it on their taxes.
Tags:ebayHow much can you earn on Ebay before having to claim it as "earned income"?
Friday, July 29th, 2011 at
04:17 pm
Any income is taxable.
The person who mentioned the $600-700 floor for online poker winnings is thinking of the amount where the casino or site is required to report the earnings to the IRS – if you win less than that online or in a casino or any other venue, you’re still required to report it, although many/most people probably don’t because there’s no real way they’re going to get caught . Same with lotteries.
All and any earned income above exemption floor is taxable.
I read a similar question in a Men’s Health magazine once. Someone asked this about online poker winnings and the answer given was when you make/win more than $600-$700.