tax return with ebay income by selling my own personnal computer/IT items
This is my first yeat selling on Ebay and I sold a few personnal computing/IT items this year. I sold 1 graphic card for about 2800 CAD and a few SSDs for 800 CAD each. I also sold 3 portable drives for 900 CAD each. I was wondering how to declare these personnal items on my tax return when it comes up? My total sales so far are 10 000$. I am done selling for the year, cleaned out my closet.
2 comments
recped
·2 months ago@trustedcircuit
If you are ONLY seeling personal stuff that was bought to use rather than bought to resell you can report them as Capital Gains. In almost all cases you are selling for less than you oriuginally paid so0 there would be no gain and therefore no tax implications.
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4037/capital-gains.html
john_koenig99
·2 months agoThe best advice obviously would be from an accountant, but this guide is handy and gives you some guidance:
CRA Tax Guide for Online Sellers: Report eBay, Etsy & Amazon Income & GST/HST - Instaccountant - Your Online Accountants