Will Chris get Taxed for his Etsy Sales? IRS - Surely Chris won't report his Etsy sales to the IRS

[Barb's Hoard]

Chris has sold over 300 things in his etsy shop, and the lowest price of his stuff is $10. So that means he has made at least $3000 on etsy, not including all the people that bought his $50 - $80 stuff. By law, you are supposed to report all online sales to the IRS , which chris may not have done. Do you guys think the he will be Auditied?

 

[KatsuKitty]

Unlikely. The IRS fries big fish. Worst case, he gets an audit. I'd worry more about him making enough to lose the tugboat.

 

[SlenderManBearPig]

Yes, in the wake of a massive revelation about international money fraud the IRS is going to spend tens, if not hundreds of thousands of dollars and hundreds of man hours to tally up the $73.60 that Chris owes.

 

[Barb's Hoard]

Also, all the stuff he sold counts as a source of income, not counting all of the donations he has recieved, I think chris might get Auditied. Surely he doesn't keep track of his sales

 

[Lurkman]

Probably not.

But if the IRS does deal with an autistic manchild who doesn't even know what he's doing, then that will confirm my theory that the IRS is after everyone.

 

[Barb's Hoard]

We can't tell exactly how much he has sold, but he sold over 300 different things and he could have made anywhere from $3000 - $20,000. He probably doesn't even know how to report those sales for the IRS, but if he doesn't report it, the IRS may find out

 

[Lurkman]

he sold over 300 different things and he could have made anywhere from $3000 - $20,000.

Stop stop, please. Chris-Chan has made no where near 20,000, let alone 3,000.

If I am wrong on that, someone correct me.

 

[Barb's Hoard]

Oh, and he also got tons of donations from people, so that counts as a taxable income too

 

[Lurkman]

Oh, and he also got tons of donations from people, so that counts as a taxable income too

DStecks is only one guy.

 

[Doc Cassidy]

You have to make so much before it needs to be reported to the IRS, something like 11,000 although I may be making that number up. Whatever it is, Chris is nowhere near it.

And that's profit, which Chris makes very little of. If you sell a 15 dollar item for 20 dollars it takes a long time before you're actually showing enough profit for it to not be considered hobby profit. Otherwise everyone that sells world war 2 memorabilia for fun or has a yard sale would be in trouble.

 

[Nuttelex]

Shit thread

 

[Pickle Pirate]

This thread is ten pounds of shit in a five pound paper bag.

 

[Vitriol]

nope- put things like this in random thoughts and questions. We are not in a content drought and needing banal threads to keep away boredom.