Fellow CPA  Kristine McKinley has a great post titled How Do I Go About Filing Taxes on My EBay Sales?

Since many homeschoolers sell books and lots of other stuff on eBay, its a great questions to ask.  Kristine's blog Tax Tips for EBay Sellers has some good tips and information in other posts.  She discusses what expenses you can deduct, how to record sales and what taxes you'll owe.

eBay sellers, do your homework. Get help if you have questions and do your taxes correctly.  As Kristine points out:

The IRS is targeting eBay sellers and other small business owners who may be under-reporting income (or not reporting it at all), so good for you for being proactive and learning your responsibilities as a small business owner.