claiming ebay sales on taxes...

[boxbust421]

I did some research today and I'm trying to figure out who should claim the income they make on ebay selling cards. An example was if you buy something and sell it used for less than you paid you wouldn't have to claim since there was no gain and it was a used item. So if you buy cards in a box like most of us do and you open it wouldn't that be considered a used item since it is opened and not sealed? And unless you are lucky, you rarely come ahead on flipping cards. So am I wrong to think that most card sellers are safe to not worry about claiming taxes on the money they make on ebay? Or am I totally wrong and you are allowed to make x amount of dollars before you have to file taxes on "self business"?

[raiderguy10]

This should answer any questions you have:

http://www.blowoutcards.com/forums/off-topic/125363-irs-paypal-questions-help-us.html

[Frankp2311]

If you are buying boxes and/or cases of cards to sell online and turning your profit back into more cards, that is considered a hobby by the IRS. If you sell cards to pay your mortgage and other bills and you are doing this successfully then you need to start claiming it on your taxes. That is the simple answer.