Do I Need To Pay Tax When Selling Used Items?
I'm selling anime figures or statues that I have collected more than 7 year, to pay my living.
Last year, I sold half of my collection; I did over 60 transactions via PayPal and $22k in gross sales receipts( 18k$ items value and 4k shipping). Because I don't make any profit from my sales, do I need to pay or file tax ?
Last year my income is just 7k$ and I was unemployed. I received 1,3k$ in tax refund.
My friend told me that sold goods are taxable as income, so my total income last year will be 22k + 7k =29k, is it correct? And how?
Any information is much appreciated. Thanks
Last year, I sold half of my collection; I did over 60 transactions via PayPal and $22k in gross sales receipts( 18k$ items value and 4k shipping). Because I don't make any profit from my sales, do I need to pay or file tax ?
Last year my income is just 7k$ and I was unemployed. I received 1,3k$ in tax refund.
My friend told me that sold goods are taxable as income, so my total income last year will be 22k + 7k =29k, is it correct? And how?
Any information is much appreciated. Thanks