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Question2022
Level 1

Sold on eBay at below price I paid for items. Loss?

What if I sold items on eBay at a loss but I don't have the original receipts showing when I bought them or how much I originally paid. Can I still claim a loss on my taxes?

1 Reply
EricE_CPA
Employee Tax Expert

Sold on eBay at below price I paid for items. Loss?

Hi Question2022

 

Under IRS regulations regarding "Burden of Proof"
" You must be able to prove (substantiate) certain elements of expenses to deduct them. Generally, taxpayers meet their burden of proof by having the information and receipts (where needed) for the expenses."

 

see link:

Burden-of-proof 

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