Geo-TH,In
Well-known Member
I know a man who sells his kids used clothes that are like new and no longer fit on Ebay. Good chance this man is selling the used clothes at a loss, less than he paid for them. I'll bet he has no records of what he paid for the clothes when new.
So if he sells more than $600 worth of clothes in a year, will the man have to pay income taxes on the sales?? Or income taxes on just one sale if it goes over $600?
This could become a nightmare.
So if he sells more than $600 worth of clothes in a year, will the man have to pay income taxes on the sales?? Or income taxes on just one sale if it goes over $600?
This could become a nightmare.