we all have sold some car parts on ebay, do we have to put it on our taxes at the end of the year?
Quote from: geraldchainsaw on 2015-12-09 08:08
we all have sold some car parts on ebay, do we have to put it on our taxes at the end of the year?
Jerry buddy,
If I could give you 20 applauds I'd do it. You not only asked a simple question but you informed every one of us what type of person you are. I hope you and your family has a great Christmas and a Happy New Year. Oh yea, the answer to your question is NO.
I would say NO also. Selling parts on Ebay isn't anything different then people selling stuff at garage sales and you know they don't report it..
have to give a update on selling on ebay, if u can do it another way, do it, i sold a big item and the cost to me was really high, to high, doubt if i'll ever sell on ebay again, after all the diff charges i figure i lost 25%, so if your going to sell something you have to ask more then its worth, and then someone would really need it bad, i'm old and still learning diff things, wow, jerry
Sorry it went that way.but as you know when we stop learning you die.
Zap- :unitedstates:
eBay has a learning curve and selling something big is not the best starting point. A lot of people begrudge eBay fees. I usually figure about 10% (9.something). I feel the 10% I pay is reasonable for exposure to a world wide market. Most things I sell on eBay, I would get pennies on the dollar if I tried to sell in my front yard or in a garage sale. I couldn't afford to run color pictures in a newspaper ad for a week much less have them collect the money for me and put it in my PayPal account. By the way, when that money hits my account, its mine to spend. No worrying about losing it, counterfeit, bouncing, or any other kind of scam that other forms of currency are plagued with. EBay Motors is NOT the same as the rest of ebay. I doubt I will ever list a car on eBay Motors or buy one again (unless they change their current policies).
A few years back when Ebay began to promote the idea of free shipping with their sellers I figured out what they were up to. While yes, items will probably sell better with free shipping, it should be realized that the seller will raise his/her price in order to cover the cost of shipping which means that when the item does sell, Ebay's commission is higher.
I have to wonder how people make money on some items, I bought a Stant radiator cap for $5 + free shipping :003:
I like E-Bay myself, they bilk you on advertising costs but where can you find this stuff for our cars if not there. I've paid crazy prices on E-bay for some stuff. I gave $385 for a set of seat belt brackets for the drivers side of a 57 Fairlane. But, who's ever heard of finding NOS brackets for the drivers side of a 1957 Fairlane. Or, $450 for 5 brand new, never used 57 Ford wheel covers still in the original Ford Box. E-bay provides a place where crazy people like me can indulge our passion.
I too like eBay and have been both a seller and buyer for over 10 years. They give you a world wide audience. They also make money on you and it's up to you to decide if it is too much. I've been able to find odd ball things and sell things that not too many people would be interested in. It's also a good place to check on the value of something. You can check the sold items and see what they are actually going for. And just about anything you can think of has been sold on eBay. If you don't like eBay, just hammer a sign into your front yard and see how well you will do.
I usually don't do free shipping, but I do adsorb the cost of shipping materials. Good boxes are free at USPS for small items and cheap at Home Depot for larger items. I buy a giant bag of shipping peanuts from a commercial supplier, 4' high and 2' in diameter for less than $20. That lasts a long time.
I thought I knew the answer to the question about taxes, but I was a little confused on the issue. The answer is, maybe. Read this.
http://www.ebay.com/gds/NEW-Tax-rules-for-Ebay-sellers-reports-u-to-IRS-2011-/10000000021227133/g.html
It's dated 2011, but as far as I could find out, it is still current. If you find more current information, post a link.
Rich
I also use Ebay a lot to both buy and sell. I sell a lot of classic Mercedes parts internationally. Ebay has a service for international buyers where the seller charges the shipping rate to ship to Erlanger, Kentucky where Ebay (or a third party) takes over by completing the customs forms, charges the buyer for the extra shipping and then forwards the packake to the international destination. I like this service as it saves me a lot of time from filling out customs forms. I have also sold a number of cars on Ebay and the total Ebay commission was $125 (I believe it remains the same). For a car that sells for 40K plus that is a pretty good deal.,
I've bought and sold a car on eBay. There is a two tier fee structure for selling. $2,000 is the break point.
Rich