Arthur L. Rubin wrote:
- quote -

That's a joke, son! However I did once have a keyboard
with a broken backspace key. In fact that particular
keyboard and system used only CAPITAL LETTERS. We've come
a long way.

Happy New ChEAr$,
Harlan Lunsford

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Harlan Lunsford wrote:

- quote -

....

- quote -

Must have got it on eBay.

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<smithff33[at]aol.com> wrote:

- quote -

thanks for replying to my question--I asked it because I
thought I heard that the IRS was scrutinizing people who
sold on eBay--I certainly hope that they focus on folks who
have eBay *businesses*, and not someone like me who uses
eBay or Half.com like I do--

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Jean S. Barto wrote:

- quote -

Just selling personal items at less than you paid for them,
does not generate taxable income. Only if you might sell
something for more would you have a taxable event.

Howsomeever.......... If some of this software and books,
or for that matter any item you sell was once written off as
a tax deduction, you will have income to be reported on a
form 4797.

Local competent tax advice would be a good idea. See either
an Enrolled Agent (EA) or Certified Professional Accountant
(CPA)

Hah! I mean Certified Public Accountant. No backspace key on
this keyboard.

Merry Christmas, Y'all
Harlan Lunsford, EA n LA

================================================== ==========
Moderator:
I've never seen a keyboard without a backspace key.
Was it from a Make-It-Yourself Kit or was it manufactured
by Redneck Enterprises? - a half-way house operation to
teach marketable skills to people whose only other
occupation was "running shine"?

If you have arrows, you can use the left arrow to
backspace. If you have a "Ctrl" key (there are usually
two of them), a "Ctrl-h" will also backspace.
================================================== ==========

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"Jean S. Barto" <jsbarto1[at]cox.net> wrote:

- quote -

If this is personal property, I don't think you have to
report it at all. You're not getting income, you're
realizing a capital loss. But since it's not investment
property, you can't claim the loss.

--
Barry Margolin, barmar[at]alum.mit.edu
Arlington, MA

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If selling for LESS than your cost basis (purchase price)
you have no income to report. However, if you have a
"business", and sell items for more than cost, use Schedule
C to enter income and expenses. If your net profit is
greater than $400, you have to also fill out Schedule SE.

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"Jean S. Barto" <jsbarto1[at]cox.net> writes:

- quote -

Then there's nothing to enter. Sales of personal
property at a loss are not deductible. If you were
selling at a gain, you would have to report it.

And if you were actually making a business out of
it, you'd have to report it.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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"Jean S. Barto" <jsbarto1[at]cox.net> writes:

- quote -

You don't. Sales of personal-use property for a loss need
not be reported anywhere.

Phil Marti
Clarksburg, MD

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I do some very occasional selling of items on eBay and
Half.com--so far just some computer software and books.
This is all stuff of mine , and I'm simply decluttering the
excess and selling the stuff at a signficant discount than
what I bought the items at originally.

Where do I enter this type of income? The amount this year
is around $250.00 so far, but there's a chance I'll be
selling some more stuff as Christmas approaches.

I do a Schedule C for my Mary Kay business. Should I start
another Schedule C for this type of income, or is there
another place on the 1040 that this type of income should be
entered?

thanks in advance--

Jean in VA

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