After 40+ years in Business, this is great advice … it’s always best to be as meticulous as Humanly possible, then, even in a worst case scenario, you’ll be fine … 
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I’ve never got anything from EBay for tax purposes. I even had 40k in sales one year when my husbands mtg collection was sold off.
I did pay most of the selling fees for that Poyo except the last month.
It would have been from Paypal, not eBay but to my knowledge it’s 200 transactions and 20k or more in sales. So unless they’ve changed it, if you sold just one item for 40k, they won’t do a 1099 to submit to the IRS. But a sale or sales that big, one must answer to the IRS if they didn’t claim that as income.
Its the people who handle the transactions, eBay is just the middle guy that hooks you up with the buyer/seller, etc.
That Policy went into effect just a few years ago … and, today, a 40K sale of a single item would still net you, I believe, a 1099 … prior to the Policy, you got nada as far as 1099’s …
correct, its the same for stubhub. did almost 100k in sales last year but was under 200 sales so no 1099
Not if it is declared as a hobby. If you are selling as a hobby you are not entitled to loses. Only if you operate as a business. I have declared my sales as part of a schedule c for years. I always hit the $20,000 k and 200 transactions so never tried to hide it. Paying taxes mean you are making money. Run it as a business you get to deduct all costs plus shipping supplies, mileage to and from the shops, and a lot more.
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Anybody been using Hipcomic much? Last post on here was 5 years ago but I’m just discovering it now.
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Yeah. It’s not bad at all. A good selection but I have noticed that many of the listings outside of auctions are also on Ebay…which isn’t a bad thing unless the item sells on Ebay and the seller doesn’t take it down on Hip. I had that problem a couple of times. but it has been a while.
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I have done the same thing on Mercari forgetting to take down eBay sales.