Hello all.
This is the first time I am reporting eBay sales so I would like your help to make sure that I do this correctly. Last year I sold about 200 items on eBay. I had to pay quite a bit for these items and I do have records/receipts to show how much I paid. However, I am unsure where to enter these costs. Should I do this under the Inventory tab? If not where?
What about those items for which I no longer have receipts? Should I use "fair market value" as my cost basis?
Lastly, where do I indicate the fees that eBay added to my "Gross Amount (Box 1a) (e.g., postage, taxes, etc.)?
Thanks in advance to all of you!!!
