Hobby money

[Sixtysixdeuce]

I hope you guys are claiming this extra money on your taxes

Joking aside, there's nothing to report if you're not turning a profit. If you bought an item for $25 retail and sell it years later on eBay for $10, there's certainly no taxable income there.

If I actually bothered to report on eBay sales, I'd end up with a net loss. Sure, sometimes I profit, but usually the items I sell go for far less than I originally paid. Some folks are certainly making money there, but most of use are just liquidating items that we already paid sales tax on when we bought it in the store with already taxed income dollars. Paying taxes on what you got reselling (if your net is equal to or less than original purchase price) would be double taxation.

[RC10th]

Hobby money - There is never enough of it. Everytime I think I'm getting on top of it the parts lists seem to grow. I can't wait for the day when 95% of my cars are done.

I'm slowly getting there, being overseas doesn't help either.

[85Edinger]

I have a deal with my parents where they pay 40% of my expenditures each year until I've spent $500. When (if) I get to $500 I pay 100% of everything past that point I spend.
I earn the money to pay my part by doing odd jobs, and by buying and selling on ebay. I'll find a lot of stuff that includes things my friends and I could use. Then I buy it. I sell my friends what they want. I keep what I want. I then sell the rest. I've managed to turn a decent profit this way while also getting things like batteries, servos, misc. parts, and bodies I can use.
Occasionally I get lucky. I found an Xmods Evo at a yard sale with no tx. I took it home (they let me have it for free), paired it with an extra tx of mine, cleaned it up, and sold it for $30.