For the last year I`ve been selling on ebay. My income is only about 3,500-4,000 since I do it extremely part time for extra money. Anyways I spent about 1,000 in stock. When I report my income to the CRA would I just report my profit or would I deduct what I spent the (1,000)? Also since this is a small business would I have to buy a business turbo tax or is there anyway I can report "hobby" income. There are also cases where the buyer paid for shipping. Would I report the money the buyer sent for shipping into my profit as well?
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