It seems I grossed (according to PayPal) around $20,000-$24,000 (I cannot remember the exact amount on the top of my head).
After eBay fees, PayPal fees, and the item costs, I am left with a net of roughly $10,000.
But I did not charge sales tax, so that is is roughly 10% ($2,400) of the grossed amount. And then 15.3% for self-employment taxes at the AGI of $7,600 ($1,164).
I did not even include shipping supply costs or travel expenses.
So basically, it appears I made around $5,000-$6,600 my first year of reselling (and full-time too, no other job or school) depending on how much I include the travel expenses and shipping supply costs.
Are there any other big expenses for tax time I should look into that I have missed? I probably could have worked a normal job and made more, but oh well. Lessons learned!
Submitted April 02, 2019 at 06:50PM by Positive_freedback https://ift.tt/2K2N64L
