Share your craft projects
Make new craft buddies
Ask craft questions
Blog your craft journey
And now, we have yet another reason: the new IRS requirement for on-line sales platforms like eBay and Craig's List to report sales over $600.
If we can't prove that we paid $250 for that drill set, and sell it at a loss on line for $100, then the entire $250 is treated as income.
I know that in the future, I will need to dispose of my entire shop, and online will be the simplest way. I am collecting what paperwork I can locate and organizing it into a file folder. For the older stuff, trying to guess dates and prices; at least there will be a document.
If we can't prove that we paid $250 for that drill set, and sell it at a loss on line for $100, then the entire $250 is treated as income.
I know that in the future, I will need to dispose of my entire shop, and online will be the simplest way. I am collecting what paperwork I can locate and organizing it into a file folder. For the older stuff, trying to guess dates and prices; at least there will be a document.
Carey Mitchell
