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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 14075
Experience:  15years with H & R Block. Divisional leader, Instructor
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please I want help I have some staff I need to sell it online

This answer was rated:

please I want help
I have some staff I need to sell it online what the fastest way to sell it and best way ?

Robin D. :

Hello and thanks for trusting me to help you today. I am a tax adviser with over 15 years of experience.
Selling your personal items online would not be taxable to you unless you receive more for the items then your cost in them.

Robin D. :

Most people these days use E-bay or Craigslist

Robin D. :

Using either of those is easy and the tax rules I stated apply to either.

Robin D. :

E-bay had fees which could reduce your tax (if you have a gain) and Craiglist is free

Robin D. :

If your online auction sales are the Internet equivalent of an occasional garage or yard sale, you generally do not have to report the sales. In a garage sale, you generally sell household items you purchased over the years and used personally. If you paid more for the items than you sell them for, the sales are not reportable. Losses on personal use property are not deductible, either.

Robin D. :

If you are selling items that are worth more now then what you paid for them, they have appreciated. Examples of appreciated assets often include art, antiques and collectibles. If you have online auction sales of property where the sales price is more than your cost or other basis, you usually will have a reportable gain.

Robin D. :

Please remember, if your online "garage sale" develops into a business and/or you have recurring sales and are purchasing items for resale with the intention of making a profit; you may have started an online auction business.

Robin D. :

My goal is to give you excellent service. If you are satisfied, please do not forget to rate me. If you have follow-up questions on this same topic, use the reply box below. To start a new conversation with me on a new topic request me again.

Customer:

Itried ebay but it is restricted to 2 items and I need to sell more stuff ??

Robin D. :

Then you may want to list on your local craigslist. There are many places to list. http://dotcomplicated.co/content/2013/01/10-great-places-to-sell-your-stuff/

Customer:

I hear from my friends that it isnot safe not like ebay

Robin D. :

Safe from what? Many people believe it is better because of the pick up by the buyers and the no fees is another plus. Of course with no fees there is nothing to reduce your gain but.......

Robin D. and 2 other Tax Specialists are ready to help you