We filed our taxes this past weekend, and we're expecting a huge refund. A five-digit refund. Yeah, a certain someone needed to adjust his withholding last year.
I'll be shaving off about $2k (my usual refund amount) to bring my E-fund up to $10k, a number it hasn't seen in about 4 years. He'll take a portion for his savings/loans, and the rest will go into our joint account for moving expenses, and a little vacation.
I'm glad I'll finally be hitting my E-fund goal so that I can concentrate on other areas now. I'm still working on my goals for this year, but I'm thinking I'm at a pivotal point right now in my work-life, and I need to shit or get off the pot, as it were, with regard to further education. Depending on the direction I go, I'll need anywhere from about $10k to $34k. Oy.
Speaking of oy, I was a bit confused about reporting my ebay sales. While I took in about $1k this year on ebay, I took a loss on nearly everything I sold, except for a few things I purchased cheaply off ebay and resold. Remember with me for a moment all the clothes and jewelry I purchased over the past few years, and how that affected my bottom-line, and you'll see why $1k should not be considered income. Even though it's clear to me that I didn't make a profit, I'd be hard-pressed to produce receipts for everything on both ends.
I know I'm not the first one in the PF community to use ebay to recoup some losses. Can anyone share their tax-reporting strategy?