cash is king.
be it at losses or gains
Letâs move on already⊠we should just ban the word âpoliticianâ as well⊠just talking about it more my lure in those who canât help themselves.
And last I checked, the IRS isnât gonna care if you sell items at a yard/garage sale a few times a year and reporting that income, they know most people are losing money from original purchase price/value. Now if you make all your income doing a yard/garage sale cause youâre out buying stuff to sell, then thatâs a business and you gotta report that income.
Yes. I keep a spreadsheet of my comics I buy and sell in case the IRS ever has any questions about my eBay and such.
I was specifically meaning comics only at a comics only yard sale.
Oh yes⊠absolutely⊠all losses. All big big big losses⊠on record 
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Yup. Such a big loss on My Detective comics 27, Action Comics 1 and Amazing Fantasy 15. I think I sold those $1 lol 
jk jk 
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Thereâs a reason why individual contractors in any line of business; not just comics, favor cash only transactions.
While looking at my eBay order totals for 2024 under different tabs within the Sellers Hub, I noticed the total sales dollar amount reported in âOrdersâ was not matching the totals anywhere else for the same time frame, such as when you export a report of total sales, or the number provided under the âPerformanceâ.
I did a deep dive of my sales, and narrowed it down to eBay international shipping orders. It looks like the total sale under âordersâ includes additional customs or other international fees associated with the sale. Yet I cannot find anywhere in sellers hub, within eBay, nor does it show up in the exported data that explains the delta.
And itâs not small amounts either. One was $40 for a single shipment.
Anyone know what this is about? Or if international fees are considered part of gross sales reported by eBay?
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I think everything is considered gross sales under eBay. Fees taxes shipping. If the customer paid it you get hit with it.
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I concur. When I had last did a deep look in Oct/Nov timeframe, it was âeverythingâ the customer paid.
I wonder if this forum thread gains some momentum over the current weeks/months 
I sold exactly zero comics in 2024 but Iâm VERY interested to hear more about this from yâall because I do want to sell comics in 2025
Iâm thinking $5K+ for 2025 but Iâm not the âsharpest tool in the shedâ when it comes to taxes 
So if that number is inclusive of taxes paid by the customer that we never receive and is reported on your 1099 as income received. Iâm not an accountant but thatâs kinda effed up.
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Basically you take what youâre receive and subtract it from everything reported. Those count as fees and put them on your deductions
Talk to your accountant first however.
Can always sell directly to CHU members in our For Sale and Trading - COMICSHEATINGUP.NET Community Forum
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Way to ruin everything, IRS. Pay taxes on things we sell that weâve already pain taxes on.
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Filing a Schedule C costs extra right? My tax preparer fees are like $4k for all the special mumbo jumbo.
My accountant charges me $700 for me and my wife.
That includes our w2 wages, my business earnings, my wifeâs family partnership earnings.
He is also a big fan of Carl Barks Donald Duck and once waived my fee because I brought him a signed sketch of Donald from Don Rosa
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Profits are income, so youâre paying taxes on income, nothing new here. If youâre doing your booking and file keeping correctly, if you bought a book for $100 and sell for $200, you should only pay taxes on the profits, not the entire $200.
I knowâŠitâs just annoying more than anything. Canât have any fun
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If thatâs all you focus on, youâll never have fun. Try to focus on the positive⊠youâre making money from buying and selling comics perhaps⊠sounds like a nice problem to have, lots of folks canât even afford to buy comics, let alone buy and then sellâem when theyâre done with them.
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