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Claim eBay Sales on Tax Return?

In response to Making Tax Prep for Online Sellers Easier:

I inherited from my mother-in-law all the unsold inventory in the little retail doll store she had, plus her personal collection. She died in 2011. The law states that there is no limit on the amount you can inherit from someone during that year.

My question is, since I inherited these dolls, which only have a value based on the price someone will buy them for; I will have no profit from the sale of any of these dolls on eBay. I will have eBay fees, PayPal fees and shipping fees. But since I won’t have a profit, I should not have to make a detailed tax return, although I will have a record of all expenses.

No state income tax in Florida, but I do now and will continue to remit taxes collected when selling to Florida residents and remit to the state.

Please confirm that my understanding is correct.


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