Tax and selling at an occasional sale

[pinkpurple]

I would like to become a vendor at an occasional sale and wondering as far as tax and the government goes... how do I go about doing it.
First I will define occasional sale: Held for three day a month, every month
I would be a vendor, so would not own the place of the sale. The owner does require either rent for space or a percentage of profit whichever is closer to $80 each month.
Most of the items are furniture and household that I either find for free or purchase for cheap at garage sales or thrift stores. Oh and the place does charge sales tax on the items that are required in the state of MN to have sale tax on them so that would be taken care at the time of purchase. I am not sure I would have a profit the first month or two but then hope to have a small profit.

Wondering if I need a tax ID and how do I represent what I would be doing when I file taxes each year.

 

[jharris352]

Unless you formed a business (LLC, INC, PC) you would not need a tax id number because as a sole proprietor you would use your social security number. At the end of the year you would file a schedule C I believe that would report your revenue and expenses. Contact a CPA or tax preparer for this sort of information.