I’m so confused and I’m trying so hard to still be able to use turbo tax this year without having to go to a cpa as I’ve used you for the last 8 years. When people sell used items online, if they do not have receipts from items 20 plus years ago what does the irs recommending using for cost estimation if they don’t want zero? This is the only answer I am trying to get. Last year my cogs were told to be left blank with no receipt and to just deduct the cost of all office expenses and ebay expenses I have receipts for which I did. I get no extra credits from the irs due to this small amount of income due to my w2 s, so the EIC is not a factor. I was going to leave again zero this year but was told I should get to find the fmv so this is what I’m trying to do and really need a solution. I understand the thrift store is less than I paid but with no receipts would this be acceptable by the irs?
