In January 2007, I started selling collectibles on Ebay. I did better than I expected. I did all the work myself; ordering the merchandise, placing the ads, shipping the product. I paid state sales tax quarterly and now I’m filing my first tax return since starting on Ebay. This is only part-time, I have a full-time job. I’ve prepared my tax return as I always have, plus I’ve prepared a Schedule C and as Schedule SE to pay the self employment taxes. But I had a good year, netting about $20,000, and that amount of money has made me nervous. I have a nagging suspicion that I’ve forgotten something. Have I?
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