Originally Posted by
CliffordK
For some people E-Bay is a business, and the IRS wants to capture those people.
For others it is personal cleaning house.
If a person bought a bunch of odds and ends new, then is dumping them on E-Bay as used, it would be easy to incur mild losses. And very few people keep all the receipts.
An acquaintance just wrote to me about helping a widow clean up her deceased husband's bikes. I suggested E-Bay this spring for some bike parts. It may well be non taxable. If it was children settling their parent's estate, it wouldn't be taxable until $13.6 Million for one, or $26.2 Million for both parents. That is a LOT OF EBAY SALES!!!
Interesting angle there by selling under an estate tax ID, if possible.
eBay requires a tax ID and they issue the 1099 against that.
Entirely unnecessary to keep original receipts, unless it involves high-ticket items.
Again, zero bang-for-the-buck for the IRS to pursue small potatoes. They want the big fish.