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First, the bottom line: There is a big difference tax-wise as to whether your eBay activity is a hobby or a business in the eyes of the IRS, with greater benefits arising from a business classification. However, treating eBay as your business when Uncle Sam concludes it is a hobby can result in back taxes and penalties. Don't fear the taxman, though -- there are ways to demonstrate you are operating a legitimate eBay business.

by: , Attorney

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