General Discussion

TnDem

(1,390 posts)

9. it depends on...

Sun Jul 27, 2025, 10:30 AM

Jul 27

How you define "income"? Specifics are everything.

Say I decide to list a few things on Ebay...I sell my old 1980's gold class ring on Ebay for $550, my mom's sterling silver set she gave to me before she died for $3500...Maybe I might need the money for rent this month too and then I list and sell my old Monopoly game from the fifties that my grandmother gave me as a kid for $200.....Is that income?...

These items were owned by me for decades and under the just prior $2500 rule that was about to become even more oppressive with the $600 tax rule , it had to all be accounted for....The sales limit was $20,000 for decades and it directly hurt low income people, and did NOT hurt people with wheelbarrows of money.

No, "income" is defined as what the CEO "earns" when he sells his 2.5 million dollar stock options after my neighbor got laid off.

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BeerBarrelPolka

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Just got an email from Ebay [View all] TnDem Jul 26 OP

I'm not sure if I agree this is 'a good thing' stopdiggin Jul 26 #1

OK TnDem Jul 26 #2

OK. As I said - arguments ... stopdiggin Jul 26 #6

Uh, no TnDem Jul 26 #7

YOU may be talking about 'small time Ebay seller' - I was fairly specific, in each of my posts, stopdiggin Jul 27 #8

it depends on... TnDem Jul 27 #9

100% agree with you. Taxes disproportionately affecting low income earners need to go. harumph Jul 27 #14

the answer (from here) is, 'Yes'. I do think that income (if it exceeds a certain 'casual' amount) stopdiggin Jul 27 #15

If not taxed, then why report? TnDem Jul 27 #16

the answer is right there stopdiggin Jul 27 #17

So, an "occasional" sale? TnDem Jul 27 #18

if the 'occasional' sale - is netting greater than 20 thousand a year .... stopdiggin Jul 27 #19

Confer your arguements to the billionaires with fleets of lawyers TnDem Jul 27 #20

NO! Because I do not buy into the premise stopdiggin Jul 27 #21

Depends on what the law says to do TnDem Jul 27 #24

Word had it was going to be $600 but so glad it's back to $20k vapor2 Jul 26 #3

I've always thought taxes on used items was bs Polybius Jul 26 #5

Great news Polybius Jul 26 #4

people conflate income reporting with actually paying taxes on that income. uncle ray Jul 27 #10

What other vendors? TnDem Jul 27 #11

that answer is in the link you posted. uncle ray Jul 27 #12

Your opinion of what's reasonable TnDem Jul 27 #13

"Something good"? GenThePerservering Jul 27 #22

True, but TnDem Jul 27 #23