![]() $35,000 is your net income on your Schedule C.Report your total gross income on Schedule C, then reduce it to net income by subtracting the amounts you spent for allowable business-related expenses.įor example, if your income is $45,000 and you have “business-related expenses” that total $10,000: This means you will have to report net income from eBay sales. ![]() If you sell and buy articles on eBay in order to earn money, the IRS will likely classify your sales activities as a business. Using eBay to make profits is usually a business If your eBay activity is classified as a business, you may be able to deduct a number of business expenses, including the costs to purchase or repair items you sell, advertising expenses, and the portion of your phone and internet charges related to your business.
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