If i sell something on EBAY do i have to report it to unemployment which i am collecting right now ?

Question

If i sell something on EBAY do i have to report it to unemployment which i am collecting right now ?

Answer 1

no way! why would u think that? would you report a yard sale to them or selling a couch to a neighbor?? no!

Answer 2

If you made a profit on the sale, then it's income, known as "capital gains". So, if you sold your collection of Matchbox cars for $50,000, then you'd need to report it, and possibly pay tax on the income.

Even if you just "traded" for something else, you may need to watch out for the bartering income tax, which a lot of people are apparently unaware of.