I own/owned many things that I have listed and/or sold recently and being a very new Ebay seller want to understand how you all figure COGs for taxes on these type of items. Is there some sort of formula? I am trying to get all my ducks in a row early on. Any and all advice would be very much appreciated.

@mommaknows wrote:@sin-n-dex My question is about things I've owned for maybe 10 to 20 years or more and have no recollection of what was originally paid. I have a similar issue with stamps (not knowing how much was paid for any particular group of stamps when I buy albums, take them all apart and make collections). I just took a ballpark guess on how much was spent on all the albums and how much I can sell all the stamps for, and figure the cogs as a percentage of the original se...

Determining cog on items for taxes | Selling

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Determining cog on items for taxes | Selling | eBay Community