Originally posted by Sock Monkey
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R.e. income tax: No, unfortunately the IRS counts all eBay income as taxable income *unless* you can prove the depreciation of the items. If you have a receipt that shows you paid $50 for a book and it sold for $20, then you can prove it's a depreciated item and that it's free of tax. But for those of us -- most of us, I assume -- who have no such records, the default assumption by the feds is that it's all profit and is due to be taxed.
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