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Old 04-10-2010
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Default Another Paypal Tax Question

So I checked my 2009 statement. I had $8,000 roll through my account.

How do I pay this tax? What form do I use? What kind of tax am I looking at? I have no invoices, etc for the items I sold to prove their costs.

I hate working on taxes.

Thanks in advance.
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Old 04-10-2010
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No invoice or cost details? You should probably hold on to stuff like that.

It's not reported to the IRS yet, but in the future you may not be as lucky.

If it were me I would attempt to calculate cost and profits.. If that didn't workout then I would just let it go, it's not a huge sum to worry about.

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