Question for all the "big sellers".

[HannibalX]

I have been around here for a number of years and on occasion sell something on the For Sale forums. I think total over six year being here I have made maybe $1000.00 on the forums, if that, from selling spare parts I have laying around.

My question is for all you big sellers with hundreds and hundreds of heatware who make several thousand dollars a month - do you report the income in your tax returns?

Just curious.

 

[jlee]

I don't report anything since it's not necessarily income...we typically end selling items for significantly less than what we paid, no?

Then again, I'm far from a high-volume trader..

 

[dug777]

i'm a big swinging dick...


...who will be posting elsewhere for two weeks.

AnandTech Moderator

 

[darkswordsman17]

Do people really make a lot of money in the FS/T forum?

Out of all the trading I've done, I've maybe broke even, but have actually almost certainly have a negative balance as far as that goes. I can only think of a couple of things that I've sold for a profit, and for the person buying it was a much better deal than they could get, and just a bit above what I paid.

 

[BigJ]

FS/FT isn't usually where you make a couple a grand a month. eBay tends to be much more lucrative.

 

[jlee]

Originally posted by: darkswordsman17
Do people really make a lot of money in the FS/T forum?

Out of all the trading I've done, I've maybe broke even, but have actually almost certainly have a negative balance as far as that goes. I can only think of a couple of things that I've sold for a profit, and for the person buying it was a much better deal than they could get, and just a bit above what I paid.

Agreed..

The nature of buying/selling hardware (for most of us, anyway) isn't really conducive to making money. Hardware has to be some of the fastest depreciating stuff around..

 

[HannibalX]

Originally posted by: BigJ
FS/FT isn't usually where you make a couple a grand a month. eBay tends to be much more lucrative.

Trust me there are "dealers" here, even though it's against the rules plenty of people buy from their local wholesaler and resell it on FS/FT at retail or just below retail.

Yeah eBay is another good point. I am not a fan of taxes anymore than the next guy just to clarify.

 

[HannibalX]

Yeah for most of us there is no profit in it, I agree.

 

[jlee]

Originally posted by: Trinitron

Originally posted by: BigJ
FS/FT isn't usually where you make a couple a grand a month. eBay tends to be much more lucrative.

Trust me there are "dealers" here, even though it's against the rules plenty of people buy from their local wholesaler and resell it on FS/FT at retail or just below retail.

Yeah eBay is another good point. I am not a fan of taxes anymore than the next guy just to clarify.

Who pays retail on FS/T?

 

[IvanAndreevich]

Who pays retail on FS/T?

You'd be surprised

 

[jadinolf]

Originally posted by: dug777
i'm a big swinging dick

 

[minendo]

Originally posted by: Trinitron
I have been around here for a number of years and on occasion sell something on the For Sale forums. I think total over six year being here I have made maybe $1000.00 on the forums, if that, from selling spare parts I have laying around.

My question is for all you big sellers with hundreds and hundreds of heatware who make several thousand dollars a month - do you report the income in your tax returns?

Just curious.

I report nothing since I am not selling for profit.