filing ebay tax?

[sonnydonut]

my total sales up to date is about 46k for this year already. However, the problem is that I don't have any records of the cost of the items and where they were bought. (I buy these items with cash and with no invoices or receipts from a person who regularly imports them from overseas). How do i go around reporting this as a deduction?

Has anyone been through this before and have found a way to do it? This will be my first time filing tax from the income ive made through ebay since i for sure already exceeded the 20k and 200 transactions. I have currently stopped all sale activities because i want to find the solution to this problem before i keep going and end up paying ridiculous tax!

Any information would be greatly appreciated!

[GreenBean]

You find yourself a tax accountant sooner rather than later.

I have no idea why you are doing such business without having a business model & even a ledger.

Therefore it's the professional services of an accountant for you to obtain the safest advice.

THREAD CLOSED.