My taxable income is $40,000, residence is in MD and I'm single. Not accounting for Health/dental insurance contribution. I work for a non-profit organization if that makes any difference.
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I would calculate it as follows: Take the selling price of the posts and subtract the purchase price of the posts. This is your profit and is fully taxable. Add this to your taxable income. You can also deduct part of your home as an office if you spend enough time there with post purchasing and selling matters. Be careful! The IRS is very strict regarding the home/office deduction. Just out of curiosity what kind of posts are you selling?
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