Recordkeeping for Online Auction Sellers
Good records will help you monitor the progress of your business, prepare your financial statements, identify the sources of your receipts, keep track of deductible expenses, prepare your tax returns, and support items reported on your tax returns.
Filing a Schedule C for Your Online Auction Seller Business
This link takes you to an IRS video on Who Needs to File a Schedule C and How to do it. A transcript of the video is also available online.