In January we began selling some of our beloved, but no longer needed, possessions. It was the perfect time to do so as we were looking to downsize and Ebay had become extremely marketable for Lego sets and other collectables. Since we started listing items, we have sold two vintage pocket watches, several video games, my Happy Hollister books and multiple Lego sets. The Heinisch children have been happy to have a little more pocket money while Doug and I have been pleased with how much we have moved out of the Heinisch home.
Tonight I decided to look at exactly how much money we had made on all of our sales this year. I could believe the total. Since we started this journey several months ago we have made $595 altogether. Cameron and I have made the most, but everyone has profited form this project. Shortly after I checked our totals, we did receive disappointing news. U.S. tax laws had changed for 2022 and everyone making more than $600 on Ebay would received a 1099K to file on their taxes. I couldn't believe it as the total in 2021 was $20,000. Doug told me not to worry about it as we hadn't actually made a profit off of our possessions since we had paid more for the items than we had sold them for on Ebay. I was glad to hear that, but still a little annoyed. It seemed like such a small amount of money for the government to tax. I wondered if next they would start coming after garage sales. Even with the new tax laws, we've still made a lot more on Ebay than we ever would have at a garage sale. That has been exciting.
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