If I sell something on eBay or Amazon, do I have to report the payment as "income"?

personal items sold at a loss, such as used DVDs, do NOT create a business and the cash received is NOT business income.

Business income arises from transactions entered into in order to make a profit.

I believe the income has to be up to a certain amount and remember income = expenses - cash received. Meaning write off how much you originally paid for the item and subtract it from how much you made through selling it...you may actually never make a profit. Good luck! Oh yeah profit- in the accounting sense- means revenue made after expenses. You are still going to receive money, but just not more than what you paid for.