Paying taxes - Question for those that buy FAR items to sell on Ebay.
So this would be my first year with sells on Ebay. I take it we report Ebay sells on our taxes. Hopefully we can expense out the Ebay fees, stamps, envelopes, copy paper, printer ink and that type thing also?
Some items sold did cost some money so not entirely profit. When an item sells, I subtract fees and cost of item to give me true profit.
I understand that Ebay does not have any tax forms they mail out but Paypal does?
Any helpful hints would be appreciated. I've always used TaxAct so hopefully it guides me through.