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Self employed
Hello,
My total sales were around 4000 before deducting fees. I don’t have any receipts or cost of goods sold because they were toys from our childhood etc. I don’t know where to even begin to estimate this on these collectables, is it wrong to put my cost as zero? Last year I left this line blank and didn’t even put a zero and claimed all profit, I hope I don’t get flagged for this. If I can’t put zero, how are these costs estimated? What was the last expert referring to when he told me I could enter zero and another expert told me before if you look on this thread that some cost needs to be entered, so I really need clarification. If you don’t have receipts how would zero be a number that is ever questioned? I’m just trying to do the right thing and appreciate any information.