While I wait on tax documents to get here so I can power through the taxes, and the much dreaded FAFSA(yes, I said that word!), I've been going through and calculating my eBay numbers.
Yes, if you sell stuff on eBay it's income and you had better report it.
I'm just sayin'.....
Even with just selling stuff for 2 months last year, the amount of paperwork and numbers I have to wade through is mind numbing. It took me three solid HOURS to get through it tonight!
After deducting all the fees, supplies and the costs of the goods I sold, I netted a whopping.....you'd better sit down for this!......$1710.10.
And that's not deducting for the portion of the storage unit fees I incurred to store the things I sold. I "could" deduct that IF I could come up with an acceptable formula to divide the storage unit fees between the square footage the eBay stuff occupied and the square footage where all the non-eBayed stuff sat. I could also try deducting lots of other things too....like part of my internet connection cost, part of the cost of my computer/printer/paper/ink/etc. But all that takes documentation and effort and sends up audit flags. I'll just take that hit and not even bother. I am beyond caring to go there.lol
So in the end all the fees I paid to sell this stuff?
It almost cost me as much as I netted!
I will not depress myself by figuring what my hourly wage was to make that $1710.10.
But I suspect I'd be better off wearing a paper hat and asking if you want fries with that! lol
This all just confirms my belief that selling on eBay as an income stream is so not worth it. Might have been years ago but now?.....nah!
It's a great way to get rid of things you have laying around the house and such. Or selling off things you don't want anymore.
But as a sustainable fulltime job? Not so much.
I'll stick to Focus Groups and some Survey work.....though my patience for that stuff is wearing thin too lately. ;-)
I need to find someone who wants to pay me to sit around and drink adult beverages!
Yah, now THAT'S the kind of work I could so get into!! 8-)