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From what I have been told if you sell anything on ebay for a profit you have to report it. So If I bought a book for $2 at my local store, read it then sold it on ebay for $3 I have to pay taxes on that $1 in profit. I would imagine there are a lot of people that buy and sell a lot of stuff and don't ever report the income.
My all time favorite moment involving ebay was back in around 2001-2002 when the economy was really in the shitter and Dick Cheney actually said that it wasn't as bad as people thought because of ebay. He said, "That's a source that didn't even exist 10 years ago," Cheney told an audience in Cincinnati on Thursday. "Four hundred thousand people make some money trading on eBay."
Classic.
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