Hi . I am currently a international student ( visa F1 ) . I start sell book on Amazon, abebook and eBay for 3 month.
I usually bought book on barnesandnoble or some website like that with a cheap price and sell it back on those website.
It started making more money. I make about 10,000 per month. ( after deduct the money I bought the book , may be I get 1-2000 )
I used a method direct deposit to the bank from the website I sell.
Do IRS know and Do I have to pay a tax for it. And you know , if I have to pay. How much I have to pay for it.
Since I don't have a tint number and social number , how can They know I have to pay a tax.
Can your guy help me . Because I want to make some money for my tuition. But I am afraid I have to pay the tax. If paying a tax. Mean I have doing it for nothing and I am in trouble.
How can the IRS know we are selling stuff online.
Thank You very much

Right now, the IRS is NOT tracking these type of transactions, but I expect that eventually, they WILL require such websites to report those transaction and you will have to provide them your name and SSN.

Legally, you are generating income through an independent business, and income taxes for federal and state are due from you. Your F-1 visa status currently exempts you from self-employment taxes.

However, what you are doing is engaging in an independent buisiness, which IS a violation of your visa. The only income you are allowed to earn are wages as an employee to help offset your expenses, or while working in either a CPT or OPT tour in coordination with your university and with expressed permission of the USCIS.

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Originally Posted by AtlantaTaxExpert

Right now, the IRS is NOT tracking these type of transactions, but I expect that eventually, they WILL require such websites to report those transaction and you will have to provide them your name and SSN.

Legally, you are generating income through an independent business, and income taxes for federal and state are due from you. Your F-1 visa status currently exempts you from self-employment taxes.

However, what you are doing is engaging in an independent buisiness, which IS a violation of your visa. The only income you are allowed to earn are wages as an employee to help offset your expenses, or while working in either a CPT or OPT tour in coordination with your university and with expressed permission of the USCIS.

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But the law said international student is not allow to work , they did not said we not allow to sell stuff or doing business only. I am not working under anyone. is it still illegal ? Thank you for helping me out

You are splitting hairs. The USCIS did not grant you a F-1 student visa in order to set up a business in the U.S. to compete with other U.S.-based businesses. Your F-1 visa was granted for you to attend school, period.

BOTTOM LINE: Running that business is a violation of the provisions of your F-1 visa, and if you continue, you risk having the visa revoked.