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Original Message
RE: Are you sure about tax treatment ?
Posted by vinyl1 on July 10, 2017 at 20:04:47:
Not so. If you sell personal items for less than you paid for them, no tax is due. However, if you sell for more than you paid, then you should report it as a capital gain on a collectible, taxed at your ordinary rate with a cap of 28%. You would report these sales on Part II of Form 8949, with Box F checked.
For a hired seller, how eBay works is irrelevant. He would report his total revenue, but the amounts paid out to the actual owners of the records would be treated as the cost of goods on his Sched C.