Forum Replies Created
-
Posts
-
8 for me this week, finally made my goal. But still behind, from weeks 1 and 2 (last week was 0, I didn’t post that).
Your COGS for items you got for free is inarguably $0.
For items in ancient death piles that you can’t remember anything about, the most conservative answer also would be $0. There could be other answers, which a tax professional could help you with.
If it’s a personal item that you purchased new and have had for years, you might be able to argue that your COGS is equal to the sales price, under the theory that most of the things you buy for personal use depreciate (become less valuable) over time. This would mean that you are selling it for less than you paid for it and don’t have any gain. A loss on the sale of personal property is not deductible, so you don’t care about figuring the amount of your loss…determining there is $0 gain is sufficient.
But there can be instances when you sell a personal item for more than you paid for it. Then you have a personal gain which IS taxable.
Disclaimer: I am a random person on the internet. You should always consult a competent tax professional.
There might be a threshold for payment, too, where you have to file but you don’t have to pay any tax. A hassle, nonetheless.
Only 3 for me, but that’s something, at least. Amatino, I started using your spreadsheet, maybe it will help!
No listings for me last week.
VT, so glad you’re okay. Such a terrible time Colorado is having.
My January task is to create a better set up (or really any set up) to photograph clothes and then do the bag of clothes that has been sitting upstairs forever waiting for me to list it.
I’m still here! Not dead yet, but you wouldn’t know it by either my listing or my sales. Amatino, I like that challenge and I’m on board for 2022.
By coincidence (or not…) after I saw this thread, this article popped up:
https://www.vox.com/the-goods/22763901/drop-shipping-explained
0 for me as predicted, but it was nice to get away for the weekend for a first time in over a year.
Amatino, excited for you about your new bathtub! Our bathroom desperately needs an overhaul, too, but as we only have one, it’s kind of a logistical issue so we keep putting it off.
Hope everyone has a great week!
0 for me 🙁 I had to work both weekend days at my day job plus several meetings and a volunteer work morning and I had no remaining bandwidth for ebay.
I will be out of town this coming weekend so it will likely be 0 for me again next week 🙁
Back on the board with 3 listings, 2 of which met the challenge.
Maybe my new goal should be to list 10% of whatever VT lists 🙂
Amatino, you’re the best! Even though it’s not currently reflected in my listing numbers, I do get motivation from this thread and would like it to continue.
I would like to put in a vote against Facebook. I agree with you about Reddit. I think email would likely be too unwieldy but I’m open to being convinced otherwise. I don’t have any experience with the others, except blogs…that might work but I don’t know how much of a hassle it would be to maintain. These aren’t super helpful comments but that’s all I got.
