You May Owe Taxes on Your Online Sales

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 25 January 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

IRS rules about how sales on websites like eBay, Poshmark and Airbnb are taxed have changed several times in the past few years. Wall Street Journal tax reporter Laura Saunders joins host J.R. Whalen to discuss what sellers should know when they file their tax returns. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Listen up.
0:02.0	This February,
0:03.0	Oh my God, you're Ellie Conway.
0:05.0	I am such a fan.
0:06.0	What is it you do?
0:07.0	Espionage.
0:08.0	Don't miss the new action adventure, Argyle.
0:12.0	I want all assets fixed on them now.
0:14.3	Who are these people?
0:16.0	Real life spies.
0:17.2	From the Director of Kingsman.
0:18.6	I can't pull off a spy mission.
0:20.6	Everything hinges on this.
0:23.0	It's time for you to meet the real Agent Argyle.
0:26.3	Oh my God.
0:27.3	Argyle, in cinemas Thursday, February 1st.
0:30.3	Here's your money briefing for Thursday January 25th. I'm J.R. Whelan for the Wall Street Journal.
0:38.6	In the eyes of the IRS money you make from selling goods online is considered income and you may have to pay taxes on it.
0:48.0	There's VINMO, PayPal, Airbnb, Pashmark, eBay.
0:54.0	If it's income they want it reported.
0:56.0	Let's say you sold a Taylor Swift ticket that you acquired for $250 for $1,000.
1:02.0	That's taxable income. $1,000 for $1,000.
	...

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