What can online resellers deduct on Schedule C taxes?
Resellers can write off Inventory COGS (what you paid for items sold), platform selling fees, shipping supplies (boxes, tape, polymailers), mileage driven for thrifting/post office runs (67 cents per mile in 2026), and software subscriptions like Kamcart.
How does the 1099-K reporting threshold work?
Platforms like eBay, Poshmark, and Mercari issue Form 1099-K for gross sales. You do NOT pay tax on gross sales—only on your Net Taxable Profit after deducting COGS, fees, and expenses.