Tax report
Gross revenue
$526
Units sold
6
Fees + shipping
$117
Net income
$179
Estimated quarterly taxes
%
| Quarter | Revenue | Expenses | Net | Est. tax | Due date |
|---|---|---|---|---|---|
| Q1 | $0 | -$155 | $-155 | -- | Apr 15 |
| Q2 | $526 | -$191 | $335 | $84 | Jun 15 |
| Q3 | $0 | -$0 | $0 | -- | Sep 15 |
| Q4 | $0 | -$0 | $0 | -- | Jan 15 (next year) |
| Total | $526 | -$347 | $179 | $84 |
Estimated taxes use a flat 25% rate on positive net profit per quarter. Actual obligations vary based on filing status, deductions, and state taxes. Consult a tax professional for accurate quarterly estimates.
1099-K reconciliation (by platform)
| Platform | Transactions | Gross revenue | Fees | Threshold |
|---|---|---|---|---|
| eBay | 3 | $285 | -$40 | Under $600 |
| Depop | 1 | $95 | -$10 | Under $600 |
| Grailed | 1 | $88 | -$9 | Under $600 |
| Poshmark | 1 | $58 | -$12 | Under $600 |
Platforms issue 1099-K when gross revenue for the year exceeds the IRS reporting threshold ($600 for 2024-onward in the US -- subject to change). Match your reported figure against each row above. Nothing here is tax advice; consult an accountant.
Sales tax summary (by platform)
| Platform | Total sales | Est. tax rate | Est. tax |
|---|---|---|---|
| eBay | $285 | 7.0% | $20 |
| Depop | $95 | 6.5% | $6 |
| Grailed | $88 | 7.0% | $6 |
| Poshmark | $58 | 7.0% | $4 |
| Total | $526 | $36 |
Estimated tax rates are rough averages by platform. Actual sales tax obligations depend on your nexus states and the buyer's shipping address. Most marketplace platforms collect and remit sales tax on your behalf. Consult a tax professional.
Net income calculation
| Gross revenue | $526 |
| -- Platform fees | -$69 |
| -- Shipping cost | -$48 |
| -- Cost of goods sold (COGS) | -$59 |
| -- Other business expenses | -$170 |
| Net income | $179 |