can i claim taxes for.....?

Question

selling clothes etc.... on facebook , i buy my stuff at yard-sales and then i flip it on face book will this work for taxes, and do i have report this income to hud ?

tro · Answer

this is self employment income you report on Sch C possibly SE and your 1040
if you are one some kind of assistance like SSI, yes this income needs to be reported to them as well, it will make a difference in your benefits

babyboomer1001 · Answer

Yes, you have to report the income to HUD.  You do not claim taxes.  That is not how taxes work.  If you have income, you file a tax return.  If you don't know how, hire an accountant.

StephenWeinstein · Answer

You must claim it for taxes.  I don't know about HUD.

Amanda lucero · Answer

so  do i get a business license    too?

Slickterp · Answer

Can you?  You HAVE to.  If you buy and sell for profit and make over $400 for the year, you have to file, by law.  Yes, you have to report it to HUD.

Judy · Answer

CLAIM taxes?  You must report your income and expenses, and the net is taxable.  If there is any agency you'd have to report income to if you were working as an employee, yes you have to report this income also.

Robt · Answer

NOT even close to enough info for a valid guess.
U don't know what where how to use libraries in ur area ?
Libraries got books on how to figure out ur taxes and filing.
Plenty of books on how to get educated about being self-employed also.

can i claim taxes for.....?

7 Answers