Do I owe tax on things I sell?

Selling your own used things for less than you paid generally doesn't create taxable income. But payment platforms may report your sales, so keeping simple records helps.

Good to know

• Personal items sold for less than you paid: generally no taxable gain
• Items sold for more than you paid (like collectibles) can be taxable
• Buying things to resell is a business, with different rules
• Payment apps and marketplaces may send a Form 1099-K if you pass a reporting threshold
• Keep a simple record of what you sold, for how much, and what you originally paid

General information, not tax advice. See IRS.gov. Centsational Deals isn't paid by any store, marketplace or reseller.