5 items you should pay taxes on (but aren't)

When it comes to taxes, everyone knows you have to report your income from a full-time job or side gig. (Of course, not doing so is a common tax mistake.) But the IRS doesn't stop there — they expect you to pay taxes on all sorts of earnings, including these five things you might be overlooking.

1. eBay Profits

If you sell the occasional item, such as a dress you no longer like or a collectible from your childhood, you likely don't need to report your eBay income on your taxes. Because the items you auction off are probably selling for less than you originally bought them for, you're taking a loss and the IRS views the transaction like a garage sale.

But if you sell items regularly — auctioning off 200 items and earning more than $20,000 in sales each year — your income is taxable. PayPal will issue you a 1099-K form with your earnings for the year in addition to reporting your income info to the IRS.

But even if you don't meet those numbers, you may still have to pay taxes on eBay sales. If you deliberately buy items to resell on eBay or manage an inventory, the IRS considers your eBay store to be a business and will tax your profits as income.

2. GoFundMe Campaign

Crowdfunding sites like GoFundMe are increasingly popular, raising money to help people with everything from medical bills to paying off student loans. But when it comes to taxes, crowdfunding can be extremely complicated.

According to GoFundMe, donations made through the site are considered personal gifts and are usually not taxable as income.

But the key word is usually. There are exceptions. In 2015, a cancer survivor who received $50,000 in donations got a tax bill for more than $19,000. It gets even more complicated if you collect donations on behalf of someone else. Even if you transfer the money to them, you could be on the hook for paying taxes on the entire amount.

Before creating or cashing out a GoFundMe campaign, talk to a tax professional about what you can do to ensure the IRS views the donations as gifts rather than income. Otherwise, you could end up having to pay taxes.

RELATED: 9 states where taxpayers get high tax returns:

3. Free Items

Items you receive free from companies can be a tricky area. If they're true gifts, free things are not taxable. But when there is an exchange of goods and services — such as a company giving you a product in exchange for a review on the item — the IRS considers it bartering and the value of the sample is taxable as income.

This is an important distinction, especially for bloggers and social media influencers who often receive gifted items from companies. While the monetary income from your activity may be small, the value of samples can add up quickly. You may have to pay taxes for the full amount.

4. Forgiven Debt

If you have debt your lender forgave, the amount could be taxable as income. If you repay your federal student loans with an income-driven repayment plan, for instance, part of your balance may be forgiven if you meet the program's requirements. That's great news, but the discharged balance is taxable as income.

For example, say you were eligible to have $10,000 forgiven because you met the requirements of your income-based repayment plan. While you no longer have to make payments on your loan after it's been forgiven, the IRS will tax you on the discharged amount of $10,000, and you will be sent a 1099-C Cancellation of Debt form. (Here's what to know if you get one.)

Exceptions to this rule are loans discharged through Public Service Loan Forgiveness, Teacher Loan Forgiveness and debt eliminated through bankruptcy. In those scenarios, you do not have to pay taxes on the forgiven amount.

5. Fantasy Football

Fantasy football is a $3.6 billion industry, one in which the average player spends nine hours a week strategizing. It's a fun activity that can consume players and take over office spaces. But whether you're a serious participant or a casual player, fantasy football can have surprising tax implications.

The IRS requires individuals to report winnings from gambling, prizes and hobbies. If you win the office pool or an online league, your prize money is taxable as income.

If your winnings are more than $600, the league or host should send you and the IRS a 1099-MISC form. But even if your winnings are below that threshold and you don't get a 1099, you still need to report that income on your taxes.

Keep in mind: You may be able to deduct some of the associated costs, too. If you won $1,000 but it cost $500 to enter, you can report only the net profit.

Find Out If You Need to Pay Taxes

When it comes to getting their share of your income, the IRS doesn't play around. Besides the money you earn from your job, you may owe money for other overlooked activities. If you're unsure about what to include in your tax return, talk to a tax professional to avoid any penalties or fees.

More from Credit.com:
The Best Easy-to-Get Credit Cards
How to Get a Credit Card After Bankruptcy
What's the Difference Between Secured & Unsecured Credit Cards?

This article originally appeared on Credit.com.

Your resource on tax filing
Tax season is here! Check out the Tax Center on AOL Finance for all the tips and tools you need to maximize your return.
What to Expect Tax-Wise from Your Summer Job
You won't know what to expect tax-wise from your summer job unless you consider factors other than how much you earn.
Read MoreBrought to you byTurboTax.com
Summer Tax Tips
Smart tax planning happens all year round. Here are four things you can do this summer to improve your standing when tax time rolls around again.
Read MoreBrought to you byTurboTax.com
Home Improvements and Your Taxes
As a homeowner you may be asking, "Do I get a tax break for all the money I've spent fixing up my house?"; The answer depends on the kinds of improvements you've made and how well you've kept track of your expenses. Here's an overview of how home improvements can affect your taxes.
Read MoreBrought to you byTurboTax.com
Buying Your First Home
Buying your first home is a huge step, but tax deductions available to you as a homeowner can reduce your tax bill.
Read MoreBrought to you byTurboTax.com