'Fess Up poll: Do you sell your stockpile on Ebay? - Page 4

collectorofbells · 03-13-2007, 07:07:13 PM

I have in the past but it's more to get rid of the stuff than to make money- when I moved I had 20 window kits cause where I used to live I needed to put the plastic up at the windows, and when Wal-mart moved to their new store, they marked them down to a nickle a piece-even without coupons I wasn't about to pass that up! once I moved I didn't need them so I put them on Ebay in lots of three-the Cheapest lot went for 17 dollars!

I also sold my stockpile of Carefree after I had my surgery-that was a matter of get them out of my house! ah...freedom..........

berlinsmommy · 03-14-2007, 08:14:16 AM

Originally Posted by too-old-now

I don't see a problem with folks selling stuff on ebay, provided that they declare the income they receive and pay taxes on it.

Actually, I asked a CPA about this and here's the oh, so technical response that I got. Basically, manufacturer coupons are a method of payment, just as a gift card, credit card, or cash in the eyes of the government. That is why in states and localities that have sales tax, you pay the tax. So, for exaple, MrsP's glucose monitors, if I remember correctly they were $30 with a $30 coupon, so in effect MrsP paid $30 plus tax for them. If she were to sell them on ebay, she only has to declare and pay on her profits, so unless she sold them for over $30 plus tax (her cost), she actually took a loss in the eyes of the government.

This gets a little muddy when it comes to store promos. For example, If you buy a $1.50 tube of toothpaste at triples and use a 50c coupon, if you live in a sales tax area, you pay tax on 50c, the rest is a store promo, so your cost is 50c, so if you got $1 each for them on ebay you would be making a profit. However, I'll bet if most couponers calculated all the costs of the items they sold/put on ebay but counted coupons and FARs as costs but did not count store promos as costs, they would technically be losing money. Does that make sense?

mama22qts · 03-17-2007, 01:59:55 PM

Originally Posted by berlinsmommy

Actually, I asked a CPA about this and here's the oh, so technical response that I got. Basically, manufacturer coupons are a method of payment, just as a gift card, credit card, or cash in the eyes of the government. That is why in states and localities that have sales tax, you pay the tax. So, for exaple, MrsP's glucose monitors, if I remember correctly they were $30 with a $30 coupon, so in effect MrsP paid $30 plus tax for them. If she were to sell them on ebay, she only has to declare and pay on her profits, so unless she sold them for over $30 plus tax (her cost), she actually took a loss in the eyes of the government.

This gets a little muddy when it comes to store promos. For example, If you buy a $1.50 tube of toothpaste at triples and use a 50c coupon, if you live in a sales tax area, you pay tax on 50c, the rest is a store promo, so your cost is 50c, so if you got $1 each for them on ebay you would be making a profit. However, I'll bet if most couponers calculated all the costs of the items they sold/put on ebay but counted coupons and FARs as costs but did not count store promos as costs, they would technically be losing money. Does that make sense?

Yes, but :CrazyEyes: that's a lot to figure! I think you're right about the store promos, assuming that most Ebay sellers get doubles/triples, etc. Is a store sale considered a promo as well?

05-09-2007, 04:30:08 PM

I am so glad you asked this and people are being honest with how they feel.....On another group someone posted about selling stuff and everyone was all.... "No way, that is just wrong" and being all holier than thou....

I do NOT sell on my stockpile on ebay because I don't have enough I am comfortable selling.....lol

I know another thing that was mentioned then was flea markets and "swap" meets....

IMHO.... at that group everyone talked about people say how "hard" couponing is and if "they only knew" well it is HARD....It is time consuming....it is WORK!

IMHO....if someone is cutting all these Q's , running around to all these stores, they have a right to decide what to do with it.

So many on that group said they would "only donate" things like that makes them better than someone who is selling things.... well the person SELLING things might be doing so , so they are NOT the ones accepting the donated items....if you know what I mean..

My grandmother LOVES yard selling and my granddad who was her life for 60 years just passed away in February.... My nanny is a HARD and Independent lady and none of us saw her taking his passing the way she did.

She said she would love to work stocking shelves some where if she could do it at her own pace. She had knee replacement on one knee and the other is bad.

I thought about collecting my overages and having her and mom set up a booth on the weekends at a flea market.

How can anyone say doing that is WRONG??????

hstanfi · 05-09-2007, 06:31:10 PM

Originally Posted by berlinsmommy

Actually, I asked a CPA about this and here's the oh, so technical response that I got. Basically, manufacturer coupons are a method of payment, just as a gift card, credit card, or cash in the eyes of the government. That is why in states and localities that have sales tax, you pay the tax. So, for exaple, MrsP's glucose monitors, if I remember correctly they were $30 with a $30 coupon, so in effect MrsP paid $30 plus tax for them. If she were to sell them on ebay, she only has to declare and pay on her profits, so unless she sold them for over $30 plus tax (her cost), she actually took a loss in the eyes of the government.

This gets a little muddy when it comes to store promos. For example, If you buy a $1.50 tube of toothpaste at triples and use a 50c coupon, if you live in a sales tax area, you pay tax on 50c, the rest is a store promo, so your cost is 50c, so if you got $1 each for them on ebay you would be making a profit. However, I'll bet if most couponers calculated all the costs of the items they sold/put on ebay but counted coupons and FARs as costs but did not count store promos as costs, they would technically be losing money. Does that make sense?

Wow, this was extremely helpful! I had never thought about this. Now I don't have to feel bad about not declaring what little I make on Ebay. It's definitely nowhere NEAR the amount of the coupons, ever. People definitely get a good deal when they buy from me!

lisa89 · 05-09-2007, 07:57:25 PM

so who is all gonna be selling soem covergirl makeup?! !LOL

susansmoaks · 05-10-2007, 08:06:59 AM

Originally Posted by lisa89

so who is all gonna be selling soem covergirl makeup?! !LOL

Me! I gave a ton to my mom to make baskets for the mothers at church on mothers day, but I have ton left to sell to friends, family, and ebay!

mrsjschultz · 05-10-2007, 08:09:12 AM

I haven't yet - I've definately thought about it but I've been keeping an eye on some prices lately and even though most stuff I have gotten for free or just really cheap it seems as if it may cost more to sell it there than anything.

Now, selling it at a flea market (if we had one in our area) or in a yard sale (which DH loathes, but I usually do one once a year anyways) that's more up my alley :)

I probably won't have one this summer but if I save everything until next summer I should make a killing! Shampoo (Walgreens Aussie!!) should last that long right?? I've gotten sooooo much stuff from the P&G promo...