New Fact Sheet for Reporting Auction Income

[TaxMama note: think eBay.com and epage.com ]

Courtesy of IRS

Many people don’t realize the income they earn from auctions and consignment sales may be taxable. A new IRS Fact Sheet helps taxpayers better understand what income they are required to report and what deductions they may be entitled to take.
http://www.irs.gov/newsroom/article/0,,id=174478,00.html

[See Resource Box below for links to this and other resources]



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