Hi,
I am thinking of selling some somewhat expensive electronics and computer accessories, etc. on Mercari. It is all my stuff that I have proof of purchase for and I expect to receive less than the original purchase price.
Do I have to worry about taxes? (Both, having to pay and not having to pay but having to declare and prove I am not making profit and making my tax return more time consuming.) I expect the revenue to be above the tax free threshold but it is a fraction of what I originally paid for the items.
I would have thought that as I am making no profit I won’t have to put it on my tax return at all but I just learned that apparently in some countries (e.g. UK) you get taxed on the revenue of selling your own used stuff, so I want to be sure.
Does anyone have experience with this?