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    Tag Archives: online auction

    *AskTaxMama Newsletter, Business Taxes, Income Tax, IRS - Information, IRS News

    Reporting Auction Income and the Tax Gap

    Posted on August 8, 2008August 25, 2009 by TaxMama

    FS-2007-23, Courtesy of IRS Many people don’t realize the income they earn from auctions and consignment sales may be taxable. This fact sheet, the 16th in the Tax Gap series, will help taxpayers better understand what income they are required to report and what deductions they may be entitled to take. The tax gap, or […]

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    Posted in *AskTaxMama Newsletter, Business Taxes, Income Tax, IRS - Information, IRS News  |  Tagged Auction Income, Business/Finance, Expense, Income tax in the United States, Income taxes, Internal Revenue Service, Itemized deduction, online auction, online garage sale turns, retail, service business owner, Tax deduction, Tax Gap, Taxable income, Taxation, Taxation in the United States Leave a comment
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