Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
I have a question about a form 1099-k Paypal is sending me.
I have a question about a form 1099-k Paypal is sending me … read more
Barbara
Barbara
Enrolled Agent, Paralegal
9,482 satisfied customers
We are a mom & pop "business" selling at swap meets and
we are a mom & pop "business" selling at swap meets and EBAY. 99% of our inventory is bought at garage sales, flea-markets of thrift stores. In 2017 PayPal reported a gross (meaning including cost of … read more
Tax.appeal.168
Tax.appeal.168
Principal
6,394 satisfied customers
I am a teacher with a small buy/resell business on eBay.
I am a teacher with a small buy/resell business on eBay. This year, with the help of a few friends, we sold $25,000 worth of merchandise on eBay, and in the end made a profit of $7000. $25,000 in sale… read more
Carter McBride
Carter McBride
LLM
2,737 satisfied customers
I am 70 years old and have collected many collectibles since
I am 70 years old and have collected many collectibles since I was a teen; only as a hobby. In 2015 my son began selling items on ebay and paypal then reported to the irs via Form 1099 a $24,000 under… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,340 satisfied customers
I declare my mom as she is disabled. She sold 20400.00 of
I declare my mom as she is disabled. She sold 20400.00 of items on eBay which requires the income to be reported. Can I still declare her as in the past and fill the income under me or will she need t… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,340 satisfied customers
Myself and my daughter both sold on my ebay account in 14. i
myself and my daughter both sold on my ebay account in 14. i earned $6000 ,she made $22,000. i never received a 1099 that year in mail. but now in 2016, IRS sends me a notice to pay $10,000, in 3 week… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,340 satisfied customers
In 2014, my husband and I sold many personal items we had
In 2014, my husband and I sold many personal items we had acquired over many years after we both became unemployed at the end of 2013. It was my understanding that personal items sold for less than we… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,340 satisfied customers
In 2014 I sold several bikes and bike parts I have been
Hi, in 2014 I sold several bikes and bike parts I have been collecting over the last 2 decades on ebay. Total gross sales in Paypal for the year was about $40K (including shipping, ebay/paypal fees, e… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,630 satisfied customers
1099-K. I received my first 1099-K from Paypal. I am not a
Customer: ***** *****. 1099-K. I received my first 1099-K from Paypal. I am not a business. Over the past year I sold my Hallmark Ornament collection. Some I made a profit on, but most were sold for l… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,858 satisfied customers
I sold a collection of approximately 500 model car kits that
I sold a collection of approximately 500 model car kits that I collected from 1992 to 2011 on ebay with payments through paypal. The amoount exceeded $20K so paypal issued me a 1099 K. I bought these … read more
Tax.appeal.168
Tax.appeal.168
Principal
6,394 satisfied customers
, I have some questions similar to the example question about the PayPal 1099-k. I ha
Hi, I have some questions similar to the example question about the PayPal 1099-k. I had been buying almost new and used phones and selling them on eBay. PayPal sent me a 1099-K, and I had not even pu… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
3,406 satisfied customers
If there is a 1099K from Paypal for items sold on Ebay, for
If there is a 1099K from Paypal for items sold on Ebay, for $30k what kind of COGS can be used for the items sold. Trying to find out if there is any IRS guidelines on this.… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
Hi, I received a 1099-K from Paypal this year. I sold a fairly
Hi, I received a 1099-K from Paypal this year. I sold a fairly large number of items on eBay on the side. This is done as a hobby - not as a primary source of income. My total gross sales were approxi… read more
Tax.appeal.168
Tax.appeal.168
Principal
6,394 satisfied customers
My father needed money and asked me to sell items for him on
My father needed money and asked me to sell items for him on ebay. These items were mostly collectable toys that he has collected over the years. I received a 1099-k from paypal and am unsure how I wo… read more
Tax.appeal.168
Tax.appeal.168
Principal
6,394 satisfied customers
Received an 1099-k from PayPal showing gross dollar amounts
Received an 1099-k from PayPal showing gross dollar amounts of items sold on eBay. All the items sold ( collectibles ) were from an inheritance from my father. Does this have to be reported on the IRS… read more
winktax
winktax
Enrolled Agent
Master's Degree
425 satisfied customers
I SOLD MY MODEL CAR COLLECTION ON eBAY LAST YEAR. PAYPAL SENT
I SOLD MY MODEL CAR COLLECTION ON eBAY LAST YEAR. PAYPAL SENT ME A 1099 WHAT DO I HAVE TO DO? THE PAYPAL AMOUNTS WERE GROSS, DIDN'T SPLIT OUT SHIPPING, FEES AND RETURNS AND MY COLLECTION STARTED IN 19… read more
Dave CPA
Dave CPA
Master's Degree
740 satisfied customers
I got a 1099-K, I am not a business. I just sold on eBay to
I got a 1099-K, I am not a business. I just sold on eBay to sell things I have in my collection. Now I am faced with paying a bunch of money in taxes on my sold items. How can I really even deduct the… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
3,406 satisfied customers
I received a 1099-K from Paypal because I sell goods on ebay.
I received a 1099-K from Paypal because I sell goods on ebay. Most of what I sell are used items that we have collected over the years and things that friends have asked me to sell for them. That is t… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,857 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

228 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

17,630 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x