NJcigarman
Hero Member
- May 25, 2013
- 565
- 337
- Detector(s) used
- Garrett AT Pro,Whites Surfmaster PI
- Primary Interest:
- Beach & Shallow Water Hunting
Soooo ... my question is ...
How do you prove to the IRS what you paid for something at a yard sale? At a rummage sale? There's no receipt!
I use the Outright Application available on eBay. It keeps track of expenses, shipping, fees etc. It gives you a lot of info on sales, profit etc. I use a Paypal debit card to make 75% of my purchases. It will fill the info right in for you. Then when I use cash I have to enter that manually. So you can list all expenses, mileage, office supplies, etc. Then at the end of the year it will do schedule C for you and I give that to my accountant. Keep in mind I do this because I know I will receive a 1099 from PayPal showing my ending number say $20,000. hope this helps because the first year I got a 1099 I kept very poor records. My accountant wanted to kill me trying to sort the mess out. Here are a few entries right from my Outright
Dec 6 PayPal PayPal Fee: 39K91487B0986410Y PayPal Fees $1.05
Dec 6 PayPal PayPal Fee: 0FT27662PM944960H PayPal Fees $1.52
Dec 6 PayPal PayPal Fee: 91605695N1182305E PayPal Fees $0.88
Dec 6 PayPal PayPal Fee: 5HC19965K5717233B PayPal Fees $0.79
Dec 6 PayPal PayPal Fee: 0MR26059HX8092134 PayPal Fees $2.94
Dec 6 PayPal PayPal Fee: 4MA941296K273060D PayPal Fees $1.66
Dec 5 PayPal PayPal Fee: 4DY63781M7649423W PayPal Fees $1.02
Dec 5 PayPal PayPal Fee: 0DF589908A4587830 PayPal Fees $1.28
Dec 5 PayPal PayPal Fee: 8DE8412494814082S PayPal Fees $0.82
Dec 5 eBay Final Value Fee (2 bags goldenberg original dark chocolate peanut chews candy 6 lb gluten free) eBay Fees $1.91
Dec 5 eBay Inc Shipping ShipSvc:USPS First Class Package, Trk#:9400109699939458950223, Postage:$2.59, Ins:$0.00 Shipping Costs $2.59
Dec 5 PayPal PayPal Fee: 5GE38501DG760912U PayPal Fees $0.92
Dec 5 eBay Inc Shipping ShipSvc:USPS Priority Mail, Trk#:9405509699939460478824, Postage:$26.11, Ins:$0.00 Shipping Costs $26.11
Dec 5 eBay Inc Shipping ShipSvc:USPS Priority Mail, Trk#:9405509699939460511620, Postage:$5.44, Ins:$0.00 Shipping Costs $5.44
Dec 5 eBay Inc Shipping ShipSvc:USPS Priority Mail, Trk#:9405509699937116543322, Postage:$5.56, Ins:$0.00 Shipping Costs $5.56
Dec 5 eBay Inc Shipping ShipSvc:USPS Priority Mail, Trk#:9405509699938984645064, Postage:$15.52, Ins:$0.00 Shipping Costs $15.52