IRS: what you need to do if you made second-hand sales

Recently there has been a lot of talk about second-hand sales, especially on platforms like OLX and Vinted and there is one thing that could make all the difference. In other words, if you sell things occasionally the reality is the same, but if you are a professional seller things will be different. But how can second-hand sales influence the IRS?

It is true that the directive in this regard has already been carried out, as stated by the DECO PROtest. Thus, among the changes introduced there is a distinction between professional winners and those who just sell things because they no longer need them. In addition, it is also expected that the platforms will communicate data on winners considered active to the Tax Authority. In other words, everything will definitely change.

But how do second-hand sales influence the IRS?

This has been a question often asked by accountants and finance, especially after the news about sales platforms reached everywhere. However, this year could still be quiet.

This way, if you make second-hand sales this year, you do not have to declare the income obtained to the IRS this year, as stated by DECO PROteste.

If you make second-hand sales, whether physically or through applications for this purpose, know that you do not have to declare the income obtained through these businesses to the IRS, according to DECO PROteste.

“The sale of goods between individuals (books, clothes, etc.) is not subject to IRS or any other tax, so it does not have to be declared. It is possible that the rules will change, but it will not be for now.”

When is it on the finance radar?

To be on the finance radar you must be considered a professional salesperson. And the criteria for this are not difficult to understand. These are people who make more than 30 transactions per year and earn more than two thousand Euros in a year.

In other words, if you usually sell online you really need to pay attention to this. It’s enough to make 31 sales per year to get on the radar. Furthermore, if not for the number of sales, for the value it is even easier. Just sell a computer or two used cell phones and you can soon be under the attention of finance.