Is buying, repairing and selling taxable?
If you buy things online and pay sales tax on that item, then repair and sell online again, once again paying taxes, is that considered taxable income? If so, how much money do you have to make before it will be taxed?
Best Answer
if you are conducting a business thru e bay, of course, it is self employment income and reported on sch C and probably Sch SE, self employment tax with your 1040
re: sales tax, unless you are registered with your state to collect and pay over sales tax, you are not legally able to charge sales tax
if you pay sales tax when you buy the mdse, that is added to your cost of goods
you can go to www.irs.gov, request publication 334 and have a look at the forms mentioned above
