Do I have to pay income tax when I sell second hand stuff online?

For example, I'm selling a fridge and a bed that I no longer need. Someone see's my add and buy's the bed with cash when they pick it up. Do I need to declare that?
Do I have to pay income tax when I sell second hand stuff online?
There's no hard and fast rule on this. Certainly small amounts of selling your used stuff is totally fine and you won't get any income tax liability. Basically, they already taxed you for the money you used to buy it, and you won't get as much for it as you paid in the first place. However, if you sell enough stuff that it moves from hobby to business, and you sell things online in order to make a profit, particularly if you buy wholesale things and sell them, you are running a business and need to declare the profits.
Reply:,No, as you paid the tax when you earned the money to buy them and sales tax when you bought them.





Now if you buy to resale that is a business and you need to pay the taxes.
Reply:No...it's just like selling your car...you don't have to declare a one off sale.
Reply:Technically, no. The only time you have to declare income from online sales is if you make large amounts of money. It's just like a yard sale.
Reply:no
Reply:No: