Post # 1
I know this is going to sound so stupid.. but I am a paranoid Polly.
If I have purchased things for my wedding over time, and my parents have helped out, too and then I sell it all at once.. do I have to pay tax on what I have sold?
I’ve been planning to re-sell my items on here and was just wondering if the government is able to monitor paypal and how I need to do this to make sure I am doing everything ‘legally’
Post # 3
@PriceIsRight: If you’re not a business you shouldn’t have to worry. People selling their cars don’t pay taxes. It’s not like you’re really making an income by selling things, as they were bought with after tax dollars.
I’m not American, but assume it’s similar there too.
Post # 4
Ok! That’s what I thought.. I just wondered if it would look weird if all the money came back into my account at once, since I have bought all my wedding things over time..