EBAY? Do I have to list this?

[sharon7070]

My husband does a lot of buying and selling on EBAY.

He buys a guitar at a pawn shop or something, plays it for a little while, decides he doesn't like it or it isn't what he needs, then we sell it on EBAY and buys a different guitar with the money. This is sort of his hobby. We don't make or lose any money this way. So do we have to list this when they ask if we have sold any of our property in the last year?

This past october thru december we sold quite a few things on EBAY to pay bills and buy christmas presents. Do we have to list these things?

In the past year there were only 2 or 3 things we sold for over $400.

[ChainSmokin]

To be on the safe side I’d list any income you made in the time frames the schedules lay out. Hopefully these small amounts don’t put you over in the means test. It would be a bummer if a bank statement made it look like you were trying to hide something, when in actuality you were just trying to cover reasonable living expenses and partake in a break even hobby. This is just my general feeling, am sure others can fill in the details, or dismiss my concern altogether.

[CATCHMEIFYOUCAN]

I would list it to be on the safe side too, especially if the bank statement tells all !

Catchmeifyoucan

But, if you sold something and got the cash on hand - don't put it in the bank!

[sharon7070]

We spoke with the lawyer today and he just wrote down that on average we spend and sell $200 on ebay, he said that should be enough . So hopefully that will be good enough for the trustee.

[Frank]

Do you report it as income on your taxes? If not I don't think it would count but if it's really income then shouldn't it go on your taxes?

[sharon7070]

No, it isn't really income. Any money that comes from it, was pretty much just getting back what we had paid for an item.