How much Federal Tax will I have to pay if?

How much tax will I have to pay if I earn $1,000 in revenue on ebay?

• Doing some early spring garage cleaning this year and I'm wondering what the taxes will be if I sell $1,000 worth of stuff? Will I have to pay income tax? If so, how much on $1,000 revenue? Will I have to pay sales tax? If so, how much on $1,000 revenue? Any other taxes? If so, how much?

• Answer:

  It depends. If you sold YOUR old stuff, did you sell any of it for more than you paid for it? If you sold each item for less than you paid, it's not reported. If you sell one item for more, put it on schedule D. If you bought items specifically to resell, then you have a hobby or schedule D. As for sales tax, that's up to your state. My state has an exception for "casual sales" or personal items.