3 ms·

Does this count for selling a personal item to another person? Let's say I sell my old Mac on eBay, and the buyer sends me $750 using PayPal. Do I have to pay

• BHSPitMonkey 5y ago
  No, because this only applies to commercial transactions (and PayPal always asks you to specify whether a transaction is personal or commercial in nature).
• bmarquez 5y ago
  That amount would be reported to the IRS if you used eBay (because the "Goods and Services" setting is used on that platform). If you sold it outside of eBay and the buyers used "Goods and Services" it would also be reported. Only if a buyer used "Friends & Family" it would not be reported.
• secabeen 5y ago
  It would get reported to the IRS as revenue. Since you're selling that item for less than you paid for it, and assuming that you didn't depreciate it as a business asset, you have a net loss, and shouldn't have to pay tax. The question is going to be, how does the IRS handle reports like this?