topic Re: Cogs in Get your taxes done using TurboTax

Cogs

Gmadru83 — Mon, 23 Feb 2026 10:34:19 GMT

I'm going to recive a 1099k from ebay. I did around 9,000 in sales. Most items were free that I aquired over the years. Do I put 0 for cogs I have. O receipt to prove the price of the item

Re: Cogs

Anonymous_ — Sat, 21 Jan 2023 17:23:09 GMT

Are you in the business of selling products (i.e., what you sold is merchandise)?

Regardless, you are stuck with a basis (or cost) of $0 if you cannot substantiate your actual cost for the items sold.

Re: Cogs

Gmadru83 — Sat, 21 Jan 2023 17:26:59 GMT

So do I put 0 for cogs. Does that increase a auddit risk?

Re: Cogs

Anonymous_ — Sat, 21 Jan 2023 17:31:18 GMT

It most likely does not and would not present much of an issue, regardless, in the sense that the IRS would be hard pressed to claim that you paid less than $0 for the items.