I recently moved and have a vast surplus of books on several subjects. I thought it might be fun (and maybe profitable) to sell them on line. I even thought about setting up my own web business, but then you're considered a business with all the tax issues, etc. Anybody have experience with this, or any advice?

Might be worth talking to a local CPA; they probably won't give legal advice, but they can help with filing taxes and stuff like that.

Long time ago, I sold some books online on Barnes & Noble. I looked up what people were selling for and priced accordingly.

I sold golf club making tome and college text books.

Since I was paranoid, I set up a checking account to use for PayPal. I then did online transfers of funds from there to my regular account at another bank.

Re: taxes, unless you buy and sell books how are you going to recognize any profits for you to declare income?

You bought them for a certain price, do you think you’ll sell the books for more? I don’t see how you’d be liable for any income taxes.

I've sold a few things online and used eBay before. Currently trying to get rid of extra hiking and scuba gear I own. Need to free up some space and doesn't hurt to make a few bucks at the same time.

I wouldn't worry about taxes unless you're selling a crap ton of stuff and doing it for profit. You bought these books years ago. As someone else pointed out your likely taking a loss on the sales.

If these are your old stuff and you are just recovering some of the money you don't need to set up a business as it's not really a profit. Buying and selling for profit is a different matter. I don't think eBay sends a 1099-K until your gross sales is over $20,000 and/or 200 transactions but you may want to check that.
I have a small buy/sell business and transfer the proceeds from paypal to a dedicated checking account at the same bank as my regular personal account. That makes it easy to transfer funds as needed.
I usually don't get to the $20k annual level but want to keep things easy to manage in case I do. My accountant has an easy job that way and i think files it on another page, maybe schedule C (?).

When I retired I sold the bulk of my professional reference library, 42 cases of aged/aging/vintage/deceased medical books.

The giant bookstore 'Powells Books' in Portland Oregon has/had a type of ship-to-them program.

Local books stores around a college also seemed to have need for older used textbooks even older editions.

So...watcha got?

Rather than using Amazon has a storefront to sell to other people, you may consider trying to sell to Amazon directly. Depending on the books (age, condition, etc.) you may find that the Amazon store credit will be more worth it than trying to piece out and ship each individual book to the respective buyers.

Half-Price books if you have one locally. Thrift Books online. Or Goodwill for charitable non-cash contributions if it benefits your tax situation.

quote:

Originally posted by signewt:
When I retired I sold the bulk of my professional reference library, 42 cases of aged/aging/vintage/deceased medical books.

The giant bookstore 'Powells Books' in Portland Oregon has/had a type of ship-to-them program.

Local books stores around a college also seemed to have need for older used textbooks even older editions.

Thanks for the advice, everyone.

I know a local established book dealer who may buy some in bulk once I sort everything out.

Would you be willing to post a list in the Classifieds for members to peruse?