WSJ.com - Gray Area On Whether IRS Can Tax Internet Auction Income

WSJ.com - Gray Area On Whether IRS Can Tax Internet Auction Income

"Buyers bought $34 billion worth of merchandise there last year." EBay is a business of millions of small businesses. More than 135 million people have registered. This is a long-term hold for my family. We have large profits in the first shares purchased and have continued to add to holdings. We are at a small loss in the last shares purchased.

MSFT is now offering a service similar to the Froogle service offered by Google. There is a risk that these and other "shopping services" will take business from EBay. EBay is spending heavily to the be market leader in China. It is a very big market. EBay is the top auction house in over 50 countries although YHOO and a partner are the leaders in Japan and are fighting for leadership in China.

First quarter internet earnings will be out soon. I expect good results from YHOO and GOOG advertising. The business is growing quickly around the globe.