eBay purchases and taxes • Collecting General • The Acaeum

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eBay purchases and taxes
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TechMan
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Posted: Mon Jan 16, 2017 4:15 pm

Curious. If you purchase items on eBay -- do you have to report this information on your taxes?

Badmike
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Posted: Mon Jan 16, 2017 7:01 pm

TechMan wrote in eBay purchases and taxes:Curious. If you purchase items on eBay -- do you have to report this information on your taxes?

Purchase....not unless it's business related or a write-off.

Sales, yes.

Mike B.

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Bracton
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Posted: Mon Jan 16, 2017 9:39 pm

I don't know if other states have it, but Illinois has a "use tax". If you buy something online or otherwise in a manner where you don't pay sales tax to the selling jurisdiction, but are an Illinois resident, then you are supposed to pay a use tax on the purchase.

"Parturient montes, nascetur ridiculus mus."

SimperingToad
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Posted: Mon Jan 16, 2017 9:45 pm

Found this:

https://turbotax.intuit.com/tax-tools/t ... 29685.html

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TechMan
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Posted: Mon Jan 16, 2017 10:31 pm

Thanks everyone. Looks like my question was answered.

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