Selling all of my stuff on ebay to move to Mexico

Forum|Forum|3 years ago
August 31, 2022
1 reply
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Hello,

I have sold lots of items on ebay this year and it is all my stuff for much lower than I paid for it.

I'm also selling my record collection on another site that works through PayPal payments. Both of these payment systems have a $600 cap before IRS reporting. I should have moved last year when it was $20K. 🙂

All of it has been for losses compared to original cost but I have no records of that.

How will I handle this for taxes? Is there a way you actually claim garage sale income for example that would be excluded from taxing?

Bsch4477

Employee

If you are basically selling like a large garage sale that income is not taxed.

jonnienottingham

Hope it's OK if I jump in here. If I sell items in a Facebook group set up specifically for the items that I am selling which I previously purchased for retail prices and the payment is made through PayPal, will I have to pay taxes on it? The items will be sold for much less than the retail prices that I paid. Thanks!!